Proposed Provision: Apply 12.4 payroll tax rate on earnings above $250,000 starting in 2012. The $250,000 threshold does not increase in future years; when the current-law contribution and benefit base exceeds $250,000, apply 12.4 percent tax rate to earnings above the base. Earnings subject to tax above the threshold would not be credited for the purpose of computing benefits.
OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)
| |
Income Rates |
Cost Rates |
| Year |
Present Law |
Provision |
Present Law |
Provision |
| 2010 | 12.3 | 12.3 | 13.1 | 13.1 |
| 2011 | 12.9 | 12.9 | 13.0 | 13.0 |
| 2012 | 12.9 | 13.9 | 12.8 | 12.8 |
| 2013 | 12.9 | 14.1 | 12.8 | 12.8 |
| 2014 | 12.9 | 14.2 | 12.9 | 12.9 |
| 2015 | 12.9 | 14.2 | 13.0 | 13.0 |
| 2016 | 13.0 | 14.3 | 13.1 | 13.1 |
| 2017 | 13.0 | 14.4 | 13.3 | 13.3 |
| 2018 | 13.0 | 14.5 | 13.5 | 13.5 |
| 2019 | 13.0 | 14.6 | 13.8 | 13.8 |
| 2020 | 13.0 | 14.6 | 14.1 | 14.1 |
| 2021 | 13.1 | 14.7 | 14.5 | 14.4 |
| 2022 | 13.1 | 14.8 | 14.7 | 14.7 |
| 2023 | 13.1 | 14.9 | 15.0 | 15.0 |
| 2024 | 13.1 | 14.9 | 15.3 | 15.3 |
| 2025 | 13.1 | 15.0 | 15.5 | 15.5 |
| 2026 | 13.1 | 15.1 | 15.8 | 15.7 |
| 2027 | 13.2 | 15.1 | 16.0 | 15.9 |
| 2028 | 13.2 | 15.2 | 16.1 | 16.1 |
| 2029 | 13.2 | 15.3 | 16.3 | 16.3 |
| 2030 | 13.2 | 15.4 | 16.4 | 16.4 |
| 2031 | 13.2 | 15.5 | 16.5 | 16.5 |
| 2032 | 13.2 | 15.5 | 16.6 | 16.6 |
| 2033 | 13.2 | 15.5 | 16.7 | 16.6 |
| 2034 | 13.2 | 15.5 | 16.7 | 16.7 |
| 2035 | 13.2 | 15.5 | 16.7 | 16.7 |
| 2036 | 13.2 | 15.6 | 16.7 | 16.7 |
| 2037 | 13.2 | 15.6 | 16.7 | 16.7 |
| 2038 | 13.2 | 15.6 | 16.7 | 16.7 |
| 2039 | 13.2 | 15.6 | 16.7 | 16.6 |
| 2040 | 13.2 | 15.6 | 16.6 | 16.6 |
| 2041 | 13.2 | 15.6 | 16.6 | 16.6 |
| 2042 | 13.2 | 15.6 | 16.6 | 16.5 |
| 2043 | 13.2 | 15.6 | 16.5 | 16.5 |
| 2044 | 13.2 | 15.6 | 16.5 | 16.4 |
| 2045 | 13.2 | 15.6 | 16.4 | 16.4 |
| 2046 | 13.2 | 15.6 | 16.4 | 16.4 |
| 2047 | 13.2 | 15.6 | 16.4 | 16.3 |
| 2048 | 13.2 | 15.6 | 16.4 | 16.3 |
| 2049 | 13.2 | 15.6 | 16.4 | 16.3 |
| 2050 | 13.2 | 15.6 | 16.3 | 16.3 |
| 2051 | 13.2 | 15.6 | 16.3 | 16.3 |
| 2052 | 13.2 | 15.6 | 16.3 | 16.3 |
| 2053 | 13.2 | 15.6 | 16.3 | 16.3 |
| 2054 | 13.2 | 15.6 | 16.3 | 16.3 |
| 2055 | 13.2 | 15.6 | 16.4 | 16.3 |
| 2056 | 13.2 | 15.6 | 16.4 | 16.3 |
| 2057 | 13.2 | 15.6 | 16.4 | 16.3 |
| 2058 | 13.2 | 15.6 | 16.4 | 16.4 |
| 2059 | 13.2 | 15.6 | 16.5 | 16.4 |
| 2060 | 13.2 | 15.6 | 16.5 | 16.4 |
| 2061 | 13.2 | 15.6 | 16.5 | 16.4 |
| 2062 | 13.2 | 15.6 | 16.5 | 16.5 |
| 2063 | 13.2 | 15.6 | 16.6 | 16.5 |
| 2064 | 13.3 | 15.6 | 16.6 | 16.5 |
| 2065 | 13.3 | 15.6 | 16.6 | 16.5 |
| 2066 | 13.3 | 15.6 | 16.7 | 16.6 |
| 2067 | 13.3 | 15.6 | 16.7 | 16.6 |
| 2068 | 13.3 | 15.6 | 16.7 | 16.6 |
| 2069 | 13.3 | 15.6 | 16.8 | 16.7 |
| 2070 | 13.3 | 15.6 | 16.8 | 16.7 |
| 2071 | 13.3 | 15.6 | 16.8 | 16.8 |
| 2072 | 13.3 | 15.6 | 16.9 | 16.8 |
| 2073 | 13.3 | 15.6 | 16.9 | 16.8 |
| 2074 | 13.3 | 15.6 | 17.0 | 16.9 |
| 2075 | 13.3 | 15.7 | 17.0 | 16.9 |
| 2076 | 13.3 | 15.7 | 17.1 | 17.0 |
| 2077 | 13.3 | 15.7 | 17.1 | 17.0 |
| 2078 | 13.3 | 15.7 | 17.2 | 17.1 |
| 2079 | 13.3 | 15.7 | 17.2 | 17.1 |
| 2080 | 13.3 | 15.7 | 17.3 | 17.2 |
| 2081 | 13.3 | 15.7 | 17.3 | 17.2 |
| 2082 | 13.3 | 15.7 | 17.3 | 17.2 |
| 2083 | 13.3 | 15.7 | 17.4 | 17.3 |
| 2084 | 13.3 | 15.7 | 17.4 | 17.3 |
| 2085 | 13.3 | 15.7 | 17.5 | 17.4 |
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