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Detailed Single Year Tables

Description of Proposed Provision:
E1.4: Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2023-2042, until the rate reaches 14.4 percent in 2042 and later.

 

Financial Estimates for the OASDI Trust Fund Program

 
  Proposal
  Change from Current Law
  Expressed as a percentage of
current-law taxable payroll

Trust fund
ratio as of
January 1
Expressed as a percentage of
current-law taxable payroll
Calendar
year
Cost
rate
Income
rate
Annual
balance

Cost
rate
Income
rate
Annual
balance
201713.4113.03-0.38
298
0.000.000.00
201813.4912.93-0.56
287
0.000.000.00
201913.7012.95-0.75
273
0.000.000.00
202013.8512.96-0.89
259
0.000.000.00
202114.0212.99-1.03
245
0.000.000.00
202214.2613.02-1.23
230
0.000.000.00
202314.5413.14-1.40
215
0.000.090.09
202414.8313.27-1.56
199
-0.000.190.19
202515.1013.39-1.71
184
-0.000.280.28
202615.3713.51-1.86
169
-0.000.380.38
202715.6213.62-1.99
154
-0.000.470.47
202815.8513.73-2.12
139
-0.000.570.57
202916.0613.84-2.22
124
-0.000.660.66
203016.2613.95-2.31
110
-0.000.760.76
203116.4514.06-2.39
96
-0.000.850.85
203216.6014.17-2.44
82
-0.000.950.95
203316.7414.27-2.47
68
-0.001.041.04
203416.8414.37-2.47
54
-0.001.141.14
203516.9214.47-2.45
40
-0.001.231.24
203616.9814.57-2.41
26
-0.001.331.33
203717.0214.67-2.35
13
-0.011.421.43
203817.0214.76-2.25
----
-0.011.511.52
203916.9914.86-2.13
----
-0.011.611.62
204016.9514.95-2.00
----
-0.011.701.71
204116.9115.04-1.86
----
-0.011.801.81
204216.8515.13-1.72
----
-0.011.891.90
204316.8015.14-1.66
----
-0.011.901.91
204416.7515.13-1.61
----
-0.011.901.91
204516.7115.13-1.57
----
-0.011.901.91
204616.6715.13-1.53
----
-0.011.901.91
204716.6315.13-1.50
----
-0.011.901.91
204816.6015.13-1.47
----
-0.021.901.91
204916.5715.13-1.44
----
-0.021.901.91
205016.5515.13-1.42
----
-0.021.901.92
205116.5415.13-1.41
----
-0.021.901.92
205216.5415.13-1.40
----
-0.021.901.92
205316.5515.13-1.41
----
-0.021.901.92
205416.5615.13-1.43
----
-0.021.901.92
205516.5915.14-1.46
----
-0.031.901.92
205616.6315.14-1.49
----
-0.031.901.93
205716.6715.14-1.52
----
-0.031.901.93
205816.7115.15-1.56
----
-0.031.901.93
205916.7515.15-1.60
----
-0.031.901.93
206016.7915.15-1.64
----
-0.031.901.94
206116.8415.16-1.68
----
-0.041.901.94
206216.8815.16-1.72
----
-0.041.901.94
206316.9315.16-1.77
----
-0.041.901.94
206416.9815.17-1.81
----
-0.041.901.94
206517.0215.17-1.85
----
-0.041.901.95
206617.0715.17-1.90
----
-0.051.901.95
206717.1215.18-1.94
----
-0.051.901.95
206817.1715.18-1.99
----
-0.051.901.95
206917.2215.19-2.04
----
-0.051.901.95
207017.2715.19-2.09
----
-0.051.901.96
207117.3215.19-2.13
----
-0.051.901.96
207217.3615.20-2.16
----
-0.061.911.96
207317.3915.20-2.19
----
-0.061.911.96
207417.4215.20-2.22
----
-0.061.911.96
207517.4415.20-2.24
----
-0.061.911.97
207617.4615.21-2.25
----
-0.061.911.97
207717.4615.21-2.26
----
-0.061.911.97
207817.4615.21-2.25
----
-0.061.911.97
207917.4515.21-2.25
----
-0.061.911.97
208017.4515.21-2.24
----
-0.061.911.97
208117.4415.21-2.23
----
-0.071.911.97
208217.4415.21-2.23
----
-0.071.911.98
208317.4515.21-2.24
----
-0.071.911.98
208417.4615.21-2.25
----
-0.071.911.98
208517.4815.21-2.27
----
-0.071.911.98
208617.5115.21-2.30
----
-0.071.911.98
208717.5515.22-2.33
----
-0.071.911.98
208817.5915.22-2.37
----
-0.071.911.98
208917.6315.22-2.41
----
-0.071.911.98
209017.6815.23-2.45
----
-0.071.911.98
209117.7215.23-2.50
----
-0.071.911.99
209217.7715.23-2.54
----
-0.071.921.99



 

Summarized Estimates

 
  Proposal
  Change from Current Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2017 Trustees Report.
2017-2091 16.64% 15.26% -1.38%
2037
-0.03% 1.42% 1.45%
 
1 Under current law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified July 13, 2017