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Provisions Affecting Payroll Tax RatesUpdated May 3, 2006
These provisions modify the current-law OASDI payroll tax rate of 12.4 percent (6.2 percent each for employees and employers). For the provisions listed below, we provide estimates of the financial effect on the OASDI program over the long-range period (the next 75 years) and for the 75th year. In addition, we provide detailed single year tables.
Tables and graphs are available in two formats: HTML and Portable Document Format (PDF). We recommend the PDF version for printing (requires Adobe Acrobat Reader).
The year of the Trustees Report identifies the assumptions (intermediate) used in the preparation of the estimates. Choose the type of estimates (summary or detailed) from the list of provisions.
|Number||Table and graph selection|
|D1||Raise payroll tax rates (for employees and employers combined) by 2.0 percentage points in 2006 and later. (2005 Trustees Report)|
|D2||Raise payroll tax rates (for employees and employers combined) by 2.1 percentage points in 2020 (to 14.5% combined) and by an additional 2.1 percentage points in 2050 (to 16.6% combined). (2005 Trustees Report)|