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.

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

Year Present Law Provision
2012340340
2013329329
2014315317
2015302307
2016290299
2017277293
2018265288
2019253284
2020240280
2021227275
2022212270
2023197264
2024181258
2025164251
2026147243
2027129235
2028110225
202990215
203070205
203149194
203227182
20335170
2034-18158
2035-41145
2036-65133
2037-89120
2038-114107
2039-13894
2040-16382
2041-18969
2042-21556
2043-24043
2044-26630
2045-29216
2046-3193
2047-346-10
2048-373-23
2049-400-37
2050-428-51
2051-456-64
2052-484-78
2053-512-92
2054-540-106
2055-569-121
2056-598-136
2057-628-151
2058-657-166
2059-688-182
2060-719-197
2061-750-214
2062-782-230
2063-814-247
2064-847-263
2065-880-281
2066-913-298
2067-946-315
2068-980-333
2069-1014-351
2070-1049-370
2071-1084-389
2072-1120-408
2073-1156-427
2074-1193-447
2075-1230-467
2076-1268-488
2077-1307-509
2078-1346-530
2079-1385-552
2080-1425-574
2081-1465-596
2082-1505-619
2083-1547-642
2084-1588-665
2085-1631-689
2086-1673-713
2087-1717-738
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