Proposed Provision: Eliminate the taxable maximum in years 2012 and later, and apply full 12.4 percent payroll tax rate to all earnings. Do not provide benefit credit for earnings above the current-law taxable maximum.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Present Law Provision
2011353353
2012347347
2013341356
2014334366
2015328375
2016321385
2017314394
2018306401
2019296405
2020284408
2021272409
2022259410
2023245409
2024230408
2025214407
2026198405
2027181402
2028164398
2029145395
2030127391
2031107386
203287382
203367377
203446373
203525369
20364365
2037-18361
2038-40357
2039-62354
2040-85351
2041-108348
2042-130345
2043-153343
2044-176341
2045-200339
2046-223337
2047-247335
2048-271333
2049-295332
2050-319330
2051-343328
2052-368327
2053-393325
2054-418323
2055-443321
2056-468318
2057-494316
2058-521313
2059-548311
2060-575308
2061-602306
2062-630303
2063-659300
2064-687297
2065-716294
2066-746291
2067-775287
2068-805284
2069-835280
2070-866276
2071-897272
2072-928267
2073-960263
2074-992258
2075-1025252
2076-1058247
2077-1092241
2078-1126236
2079-1161230
2080-1196223
2081-1232217
2082-1268210
2083-1305203
2084-1342196
2085-1380188
2086-1419180
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