Detailed Single Year Tables
Description of Proposed Provision:
E3.6: Increase the taxable maximum each year by an additional 2 percent beginning in 2026 until taxable earnings equal 90 percent of covered earnings. Do not provide benefit credit for additional earnings taxed.
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 |
|||
| 2023 | 14.53 | 13.29 | -1.24 | 204 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.87 | 12.89 | -1.98 | 187 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 15.04 | 12.97 | -2.07 | 168 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 15.23 | 13.12 | -2.11 | 149 | 0.00 | 0.04 | 0.04 | ||
| 2027 | 15.38 | 13.18 | -2.20 | 132 | -0.00 | 0.08 | 0.08 | ||
| 2028 | 15.55 | 13.26 | -2.30 | 114 | -0.00 | 0.13 | 0.13 | ||
| 2029 | 15.72 | 13.33 | -2.39 | 97 | -0.00 | 0.17 | 0.17 | ||
| 2030 | 15.87 | 13.40 | -2.47 | 81 | -0.00 | 0.21 | 0.21 | ||
| 2031 | 16.00 | 13.46 | -2.54 | 64 | -0.00 | 0.25 | 0.25 | ||
| 2032 | 16.14 | 13.53 | -2.62 | 48 | -0.00 | 0.29 | 0.29 | ||
| 2033 | 16.27 | 13.58 | -2.69 | 32 | -0.00 | 0.33 | 0.33 | ||
| 2034 | 16.38 | 13.62 | -2.76 | 16 | -0.00 | 0.36 | 0.37 | ||
| 2035 | 16.48 | 13.67 | -2.81 | ---- | -0.00 | 0.40 | 0.40 | ||
| 2036 | 16.55 | 13.71 | -2.84 | ---- | -0.00 | 0.44 | 0.44 | ||
| 2037 | 16.63 | 13.75 | -2.88 | ---- | -0.00 | 0.47 | 0.47 | ||
| 2038 | 16.69 | 13.79 | -2.90 | ---- | -0.00 | 0.51 | 0.51 | ||
| 2039 | 16.74 | 13.83 | -2.91 | ---- | -0.00 | 0.54 | 0.54 | ||
| 2040 | 16.78 | 13.87 | -2.91 | ---- | -0.01 | 0.57 | 0.58 | ||
| 2041 | 16.80 | 13.90 | -2.90 | ---- | -0.01 | 0.60 | 0.61 | ||
| 2042 | 16.81 | 13.93 | -2.88 | ---- | -0.01 | 0.63 | 0.64 | ||
| 2043 | 16.82 | 13.97 | -2.85 | ---- | -0.01 | 0.66 | 0.67 | ||
| 2044 | 16.84 | 14.00 | -2.84 | ---- | -0.01 | 0.69 | 0.70 | ||
| 2045 | 16.85 | 14.03 | -2.82 | ---- | -0.01 | 0.72 | 0.73 | ||
| 2046 | 16.87 | 14.06 | -2.81 | ---- | -0.01 | 0.75 | 0.76 | ||
| 2047 | 16.89 | 14.09 | -2.80 | ---- | -0.01 | 0.78 | 0.79 | ||
| 2048 | 16.91 | 14.12 | -2.79 | ---- | -0.01 | 0.81 | 0.82 | ||
| 2049 | 16.94 | 14.15 | -2.79 | ---- | -0.02 | 0.83 | 0.85 | ||
| 2050 | 16.97 | 14.18 | -2.79 | ---- | -0.02 | 0.86 | 0.87 | ||
| 2051 | 17.00 | 14.21 | -2.79 | ---- | -0.02 | 0.88 | 0.90 | ||
| 2052 | 17.04 | 14.24 | -2.80 | ---- | -0.02 | 0.91 | 0.93 | ||
| 2053 | 17.09 | 14.26 | -2.82 | ---- | -0.02 | 0.93 | 0.95 | ||
| 2054 | 17.14 | 14.29 | -2.85 | ---- | -0.02 | 0.96 | 0.98 | ||
| 2055 | 17.21 | 14.32 | -2.89 | ---- | -0.02 | 0.98 | 1.00 | ||
| 2056 | 17.28 | 14.35 | -2.93 | ---- | -0.02 | 1.00 | 1.03 | ||
| 2057 | 17.35 | 14.38 | -2.97 | ---- | -0.02 | 1.03 | 1.05 | ||
| 2058 | 17.43 | 14.41 | -3.02 | ---- | -0.03 | 1.05 | 1.07 | ||
| 2059 | 17.51 | 14.44 | -3.07 | ---- | -0.03 | 1.07 | 1.10 | ||
| 2060 | 17.59 | 14.47 | -3.12 | ---- | -0.03 | 1.09 | 1.12 | ||
| 2061 | 17.66 | 14.49 | -3.17 | ---- | -0.03 | 1.12 | 1.14 | ||
| 2062 | 17.73 | 14.51 | -3.22 | ---- | -0.03 | 1.13 | 1.16 | ||
| 2063 | 17.80 | 14.52 | -3.28 | ---- | -0.03 | 1.13 | 1.16 | ||
| 2064 | 17.86 | 14.53 | -3.33 | ---- | -0.03 | 1.13 | 1.16 | ||
| 2065 | 17.92 | 14.53 | -3.38 | ---- | -0.03 | 1.13 | 1.16 | ||
| 2066 | 17.97 | 14.54 | -3.44 | ---- | -0.03 | 1.13 | 1.16 | ||
| 2067 | 18.03 | 14.54 | -3.49 | ---- | -0.03 | 1.13 | 1.16 | ||
| 2068 | 18.08 | 14.55 | -3.54 | ---- | -0.03 | 1.13 | 1.16 | ||
| 2069 | 18.14 | 14.55 | -3.59 | ---- | -0.03 | 1.13 | 1.16 | ||
| 2070 | 18.20 | 14.56 | -3.64 | ---- | -0.03 | 1.13 | 1.17 | ||
| 2071 | 18.25 | 14.56 | -3.69 | ---- | -0.03 | 1.13 | 1.17 | ||
| 2072 | 18.30 | 14.57 | -3.73 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2073 | 18.35 | 14.57 | -3.78 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2074 | 18.39 | 14.58 | -3.82 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2075 | 18.43 | 14.58 | -3.85 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2076 | 18.46 | 14.58 | -3.87 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2077 | 18.47 | 14.59 | -3.88 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2078 | 18.47 | 14.59 | -3.88 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2079 | 18.46 | 14.59 | -3.87 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2080 | 18.43 | 14.59 | -3.85 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2081 | 18.40 | 14.59 | -3.82 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2082 | 18.36 | 14.58 | -3.78 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2083 | 18.31 | 14.58 | -3.73 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2084 | 18.26 | 14.58 | -3.68 | ---- | -0.03 | 1.14 | 1.18 | ||
| 2085 | 18.20 | 14.58 | -3.62 | ---- | -0.03 | 1.14 | 1.18 | ||
| 2086 | 18.13 | 14.57 | -3.55 | ---- | -0.03 | 1.14 | 1.18 | ||
| 2087 | 18.06 | 14.57 | -3.49 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2088 | 17.99 | 14.57 | -3.42 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2089 | 17.92 | 14.56 | -3.36 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2090 | 17.86 | 14.56 | -3.30 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2091 | 17.81 | 14.56 | -3.25 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2092 | 17.77 | 14.56 | -3.21 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2093 | 17.74 | 14.55 | -3.19 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2094 | 17.72 | 14.55 | -3.17 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2095 | 17.71 | 14.55 | -3.16 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2096 | 17.71 | 14.56 | -3.16 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2097 | 17.72 | 14.56 | -3.17 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2098 | 17.74 | 14.56 | -3.18 | ---- | -0.03 | 1.15 | 1.18 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2023-2097 | 17.36% | 14.59% | -2.78% | 2034 | -0.02% | 0.81% | 0.83% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2023 Trustees Report.