Detailed Single Year Tables
Description of Proposed Provision:
E2.12: Eliminate the taxable maximum in years 2037 and later. Phase in elimination by taxing all earnings above the current-law taxable maximum at: 1.24 percent in 2028, 2.48 percent in 2029, and so on, up to 12.40 percent in 2037. Provide benefit credit for earnings above the current-law taxable maximum. Create a new bend point at the current-law taxable maximum with a 3 percent formula factor applying above the new bend point.
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 |
|||
2025 | 15.15 | 12.80 | -2.35 | 169 | 0.00 | 0.00 | 0.00 | ||
2026 | 15.29 | 13.03 | -2.25 | 149 | 0.00 | 0.00 | 0.00 | ||
2027 | 15.48 | 13.08 | -2.39 | 131 | 0.00 | 0.00 | 0.00 | ||
2028 | 15.59 | 13.36 | -2.23 | 113 | 0.00 | 0.25 | 0.25 | ||
2029 | 15.69 | 13.65 | -2.04 | 97 | 0.00 | 0.51 | 0.51 | ||
2030 | 15.80 | 13.92 | -1.88 | 83 | 0.00 | 0.76 | 0.76 | ||
2031 | 15.92 | 14.20 | -1.71 | 70 | 0.00 | 1.02 | 1.02 | ||
2032 | 16.01 | 14.47 | -1.54 | 58 | 0.01 | 1.27 | 1.26 | ||
2033 | 15.98 | 14.76 | -1.21 | 49 | -0.09 | 1.52 | 1.61 | ||
2034 | 16.14 | 15.03 | -1.11 | 41 | -0.00 | 1.77 | 1.77 | ||
2035 | 16.24 | 15.29 | -0.95 | 34 | 0.01 | 2.01 | 2.01 | ||
2036 | 16.34 | 15.54 | -0.80 | 28 | 0.01 | 2.26 | 2.24 | ||
2037 | 16.44 | 15.79 | -0.64 | 24 | 0.02 | 2.50 | 2.48 | ||
2038 | 16.52 | 15.81 | -0.71 | 20 | 0.03 | 2.51 | 2.48 | ||
2039 | 16.59 | 15.82 | -0.77 | 16 | 0.04 | 2.51 | 2.47 | ||
2040 | 16.65 | 15.83 | -0.82 | 11 | 0.05 | 2.51 | 2.47 | ||
2041 | 16.70 | 15.84 | -0.87 | 7 | 0.06 | 2.52 | 2.46 | ||
2042 | 16.75 | 15.84 | -0.90 | 1 | 0.07 | 2.52 | 2.45 | ||
2043 | 16.79 | 15.85 | -0.94 | — | 0.08 | 2.52 | 2.44 | ||
2044 | 16.83 | 15.85 | -0.98 | — | 0.09 | 2.52 | 2.43 | ||
2045 | 16.88 | 15.86 | -1.02 | — | 0.10 | 2.52 | 2.42 | ||
2046 | 16.92 | 15.87 | -1.05 | — | 0.12 | 2.53 | 2.41 | ||
2047 | 16.97 | 15.87 | -1.09 | — | 0.13 | 2.53 | 2.40 | ||
2048 | 17.02 | 15.88 | -1.14 | — | 0.14 | 2.53 | 2.39 | ||
2049 | 17.08 | 15.89 | -1.19 | — | 0.16 | 2.53 | 2.38 | ||
2050 | 17.14 | 15.89 | -1.25 | — | 0.17 | 2.54 | 2.37 | ||
2051 | 17.21 | 15.90 | -1.31 | — | 0.18 | 2.54 | 2.35 | ||
2052 | 17.28 | 15.91 | -1.37 | — | 0.20 | 2.54 | 2.34 | ||
2053 | 17.36 | 15.92 | -1.44 | — | 0.21 | 2.54 | 2.33 | ||
2054 | 17.45 | 15.92 | -1.52 | — | 0.23 | 2.55 | 2.32 | ||
2055 | 17.54 | 15.93 | -1.61 | — | 0.24 | 2.55 | 2.31 | ||
2056 | 17.64 | 15.94 | -1.70 | — | 0.26 | 2.55 | 2.29 | ||
2057 | 17.75 | 15.95 | -1.79 | — | 0.27 | 2.55 | 2.28 | ||
2058 | 17.86 | 15.96 | -1.89 | — | 0.28 | 2.55 | 2.27 | ||
2059 | 17.96 | 15.97 | -1.99 | — | 0.30 | 2.56 | 2.26 | ||
2060 | 18.05 | 15.98 | -2.07 | — | 0.31 | 2.56 | 2.25 | ||
2061 | 18.14 | 15.99 | -2.15 | — | 0.32 | 2.56 | 2.24 | ||
2062 | 18.23 | 16.00 | -2.23 | — | 0.34 | 2.56 | 2.23 | ||
2063 | 18.31 | 16.01 | -2.30 | — | 0.35 | 2.57 | 2.22 | ||
2064 | 18.39 | 16.02 | -2.37 | — | 0.36 | 2.57 | 2.21 | ||
2065 | 18.47 | 16.02 | -2.45 | — | 0.37 | 2.57 | 2.20 | ||
2066 | 18.55 | 16.03 | -2.52 | — | 0.38 | 2.57 | 2.19 | ||
2067 | 18.63 | 16.04 | -2.59 | — | 0.39 | 2.57 | 2.18 | ||
2068 | 18.71 | 16.05 | -2.67 | — | 0.40 | 2.57 | 2.17 | ||
2069 | 18.79 | 16.05 | -2.74 | — | 0.41 | 2.58 | 2.16 | ||
2070 | 18.88 | 16.06 | -2.82 | — | 0.42 | 2.58 | 2.15 | ||
2071 | 18.96 | 16.07 | -2.89 | — | 0.43 | 2.58 | 2.15 | ||
2072 | 19.04 | 16.08 | -2.96 | — | 0.44 | 2.58 | 2.14 | ||
2073 | 19.12 | 16.08 | -3.03 | — | 0.44 | 2.58 | 2.14 | ||
2074 | 19.19 | 16.09 | -3.10 | — | 0.45 | 2.58 | 2.13 | ||
2075 | 19.26 | 16.10 | -3.16 | — | 0.45 | 2.58 | 2.13 | ||
2076 | 19.31 | 16.10 | -3.21 | — | 0.46 | 2.59 | 2.13 | ||
2077 | 19.36 | 16.11 | -3.25 | — | 0.46 | 2.59 | 2.12 | ||
2078 | 19.39 | 16.11 | -3.28 | — | 0.46 | 2.59 | 2.12 | ||
2079 | 19.41 | 16.11 | -3.30 | — | 0.47 | 2.59 | 2.12 | ||
2080 | 19.43 | 16.12 | -3.31 | — | 0.47 | 2.59 | 2.12 | ||
2081 | 19.43 | 16.12 | -3.31 | — | 0.47 | 2.59 | 2.12 | ||
2082 | 19.42 | 16.12 | -3.30 | — | 0.47 | 2.59 | 2.12 | ||
2083 | 19.41 | 16.12 | -3.29 | — | 0.47 | 2.59 | 2.12 | ||
2084 | 19.38 | 16.12 | -3.26 | — | 0.47 | 2.59 | 2.12 | ||
2085 | 19.34 | 16.12 | -3.22 | — | 0.47 | 2.59 | 2.12 | ||
2086 | 19.29 | 16.11 | -3.18 | — | 0.47 | 2.59 | 2.12 | ||
2087 | 19.23 | 16.11 | -3.12 | — | 0.47 | 2.59 | 2.12 | ||
2088 | 19.17 | 16.11 | -3.06 | — | 0.47 | 2.59 | 2.12 | ||
2089 | 19.11 | 16.10 | -3.00 | — | 0.47 | 2.59 | 2.13 | ||
2090 | 19.04 | 16.10 | -2.94 | — | 0.46 | 2.59 | 2.13 | ||
2091 | 18.98 | 16.10 | -2.88 | — | 0.46 | 2.59 | 2.13 | ||
2092 | 18.92 | 16.09 | -2.83 | — | 0.46 | 2.59 | 2.13 | ||
2093 | 18.88 | 16.09 | -2.79 | — | 0.46 | 2.59 | 2.13 | ||
2094 | 18.84 | 16.09 | -2.75 | — | 0.46 | 2.59 | 2.14 | ||
2095 | 18.81 | 16.09 | -2.73 | — | 0.46 | 2.59 | 2.14 | ||
2096 | 18.80 | 16.09 | -2.71 | — | 0.45 | 2.59 | 2.14 | ||
2097 | 18.78 | 16.09 | -2.70 | — | 0.45 | 2.59 | 2.14 | ||
2098 | 18.78 | 16.09 | -2.69 | — | 0.45 | 2.59 | 2.14 | ||
2099 | 18.79 | 16.09 | -2.70 | — | 0.45 | 2.59 | 2.14 | ||
2100 | 18.81 | 16.09 | -2.71 | — | 0.45 | 2.60 | 2.14 |
Summarized Estimates
Proposal | Change from Current Law | ||||||||
---|---|---|---|---|---|---|---|---|---|
Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
2025-2099 | 17.86% | 16.04% | -1.82% | 2042 | 0.25% | 2.25% | 2.00% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
Based on Intermediate Assumptions of the 2025 Trustees Report.