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Summary Measures and Graphs
Payroll Taxes (including maximum taxable)

Description of Proposed Provision:
Increase the taxable maximum until taxable earnings equal 90 percent of covered earnings (phased in 2013-2022). In addition, apply a tax rate of 6.2 percent for earnings above the revised taxable maximum (phased in from 2013-2022). Provide benefit credit on earnings taxed up to the revised taxable maximum.

Estimates based on the intermediate assumptions of the 2012 Trustees Report

Summary Measures
[As a percentage of taxable payroll]
Present Law Change from present law Results with this provision
Long-range
actuarial
balance		 Annual
balance in
75th year		 Long-range
actuarial
balance		 Annual
balance in
75th year		 Long-range
actuarial
balance		 Annual
balance in
75th year
-2.67 -4.50 1.40 1.38 -1.26 -3.12


graph of OASDI cost rates and income rates by year, under present law and provision. click on graph to view underlying data. graph of OASDI trust fund ratio by year, under present law and provision. click on graph to view underlying data.
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Last reviewed or modified January 4, 2013