Proposed Provision: Tax Reform for Business: Establish a value added tax of 3.0 percent for 2015 and 6.5 percent for 2016 and later. Starting in 2015, reduce the corporate income tax rate from 35 to 27 percent.

OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)

  Income Rates Cost Rates
Year Present Law Provision Present Law Provision
201312.712.713.913.9
201412.812.814.014.0
201512.912.414.014.0
201612.912.413.913.9
201712.912.413.913.9
201812.912.513.913.9
201912.912.514.114.0
202013.012.514.314.2
202113.012.514.414.4
202213.012.614.714.6
202313.012.615.014.8
202413.112.615.215.0
202513.112.615.515.3
202613.112.615.715.5
202713.112.615.915.7
202813.112.616.115.8
202913.112.616.316.0
203013.112.616.516.1
203113.112.716.616.3
203213.112.716.816.3
203313.212.716.916.4
203413.212.716.916.5
203513.212.717.016.5
203613.212.717.016.5
203713.212.717.016.5
203813.212.717.016.5
203913.212.717.016.5
204013.212.717.016.4
204113.212.716.916.4
204213.212.716.916.3
204313.212.716.916.3
204413.212.716.816.3
204513.212.716.816.2
204613.212.716.816.2
204713.212.716.816.2
204813.212.716.816.2
204913.212.716.816.2
205013.212.716.816.2
205113.212.716.816.2
205213.212.716.816.2
205313.212.716.816.2
205413.212.716.916.2
205513.212.716.916.3
205613.212.717.016.3
205713.212.717.016.4
205813.212.717.016.4
205913.212.717.116.5
206013.212.717.116.5
206113.212.717.216.5
206213.212.717.216.6
206313.212.717.316.6
206413.212.717.316.7
206513.212.717.416.7
206613.212.717.416.7
206713.212.717.416.8
206813.212.717.516.8
206913.212.717.516.9
207013.212.717.616.9
207113.212.717.617.0
207213.212.717.717.0
207313.212.717.717.0
207413.212.717.717.0
207513.212.717.717.0
207613.212.717.717.1
207713.212.717.717.1
207813.212.717.717.1
207913.212.717.717.1
208013.212.717.817.1
208113.212.717.817.1
208213.212.717.817.1
208313.212.717.817.2
208413.212.717.917.2
208513.212.717.917.2
208613.212.718.017.3
208713.212.718.017.3
208813.212.718.117.4
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