Proposed Provision: Increase the taxable maximum until taxable earnings equal 90 percent of covered earnings (phased in 2012-2021). In addition, apply a tax rate of 6.2 percent for earnings above the revised taxable maximum (phased in from 2012-2021). Provide benefit credit on earnings taxed up to the revised taxable maximum.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Present Law |
Provision |
| 2011 | 353 | 353 |
| 2012 | 347 | 347 |
| 2013 | 341 | 342 |
| 2014 | 334 | 339 |
| 2015 | 328 | 338 |
| 2016 | 321 | 337 |
| 2017 | 314 | 337 |
| 2018 | 306 | 337 |
| 2019 | 296 | 335 |
| 2020 | 284 | 333 |
| 2021 | 272 | 331 |
| 2022 | 259 | 328 |
| 2023 | 245 | 324 |
| 2024 | 230 | 319 |
| 2025 | 214 | 314 |
| 2026 | 198 | 308 |
| 2027 | 181 | 301 |
| 2028 | 164 | 293 |
| 2029 | 145 | 285 |
| 2030 | 127 | 276 |
| 2031 | 107 | 267 |
| 2032 | 87 | 257 |
| 2033 | 67 | 248 |
| 2034 | 46 | 238 |
| 2035 | 25 | 228 |
| 2036 | 4 | 218 |
| 2037 | -18 | 208 |
| 2038 | -40 | 198 |
| 2039 | -62 | 188 |
| 2040 | -85 | 178 |
| 2041 | -108 | 168 |
| 2042 | -130 | 158 |
| 2043 | -153 | 148 |
| 2044 | -176 | 139 |
| 2045 | -200 | 129 |
| 2046 | -223 | 119 |
| 2047 | -247 | 109 |
| 2048 | -271 | 99 |
| 2049 | -295 | 89 |
| 2050 | -319 | 79 |
| 2051 | -343 | 69 |
| 2052 | -368 | 58 |
| 2053 | -393 | 48 |
| 2054 | -418 | 37 |
| 2055 | -443 | 26 |
| 2056 | -468 | 15 |
| 2057 | -494 | 4 |
| 2058 | -521 | -8 |
| 2059 | -548 | -20 |
| 2060 | -575 | -32 |
| 2061 | -602 | -45 |
| 2062 | -630 | -57 |
| 2063 | -659 | -70 |
| 2064 | -687 | -83 |
| 2065 | -716 | -96 |
| 2066 | -746 | -110 |
| 2067 | -775 | -124 |
| 2068 | -805 | -138 |
| 2069 | -835 | -152 |
| 2070 | -866 | -166 |
| 2071 | -897 | -181 |
| 2072 | -928 | -196 |
| 2073 | -960 | -212 |
| 2074 | -992 | -227 |
| 2075 | -1025 | -244 |
| 2076 | -1058 | -260 |
| 2077 | -1092 | -277 |
| 2078 | -1126 | -294 |
| 2079 | -1161 | -312 |
| 2080 | -1196 | -329 |
| 2081 | -1232 | -348 |
| 2082 | -1268 | -366 |
| 2083 | -1305 | -385 |
| 2084 | -1342 | -404 |
| 2085 | -1380 | -424 |
| 2086 | -1419 | -444 |
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