Detailed Single Year Tables

Payroll Taxes (including maximum taxable)	Description of Proposed Provision: Beginning in 2021, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017, with the threshold wage-indexed after 2021. Provide proportional benefit credit for additional earnings taxed.

			Financial Estimates for the OASDI Trust Fund Program

	Proposal				Change from Present Law
	Expressed as a percentage of present-law taxable payroll			Trust fund ratio as of January 1	Expressed as a percentage of present-law taxable payroll
Calendar year	Cost rate	Income rate	Annual balance	Trust fund ratio as of January 1	Cost rate	Income rate	Annual balance
2013	13.95	12.69	-1.26	330	0.00	0.00	0.00
2014	14.04	12.83	-1.20	315	0.00	0.00	0.00
2015	13.97	12.86	-1.10	301	0.00	0.00	0.00
2016	13.91	12.88	-1.03	286	0.00	0.00	0.00
2017	13.88	12.90	-0.98	271	0.00	0.00	0.00
2018	13.91	12.93	-0.98	257	0.00	0.00	0.00
2019	14.06	12.95	-1.11	244	0.00	0.00	0.00
2020	14.26	12.97	-1.29	231	0.00	0.00	0.00
2021	14.44	13.20	-1.25	218	0.00	0.20	0.20
2022	14.70	13.24	-1.47	205	0.00	0.21	0.21
2023	14.97	13.25	-1.71	191	0.00	0.21	0.21
2024	15.23	13.27	-1.96	178	0.00	0.21	0.21
2025	15.48	13.28	-2.19	163	0.00	0.21	0.21
2026	15.71	13.30	-2.41	148	0.00	0.21	0.21
2027	15.93	13.31	-2.62	133	0.00	0.21	0.21
2028	16.14	13.32	-2.82	117	0.00	0.21	0.21
2029	16.33	13.34	-2.99	100	0.01	0.21	0.21
2030	16.50	13.35	-3.15	83	0.01	0.21	0.21
2031	16.64	13.36	-3.28	65	0.01	0.21	0.21
2032	16.76	13.36	-3.40	46	0.01	0.22	0.21
2033	16.87	13.37	-3.50	26	0.01	0.22	0.20
2034	16.95	13.38	-3.57	6	0.01	0.22	0.20
2035	17.00	13.38	-3.61	----	0.01	0.22	0.20
2036	17.03	13.38	-3.64	----	0.02	0.22	0.20
2037	17.04	13.39	-3.65	----	0.02	0.22	0.20
2038	17.04	13.39	-3.65	----	0.02	0.22	0.20
2039	17.02	13.39	-3.63	----	0.02	0.22	0.20
2040	16.99	13.39	-3.60	----	0.02	0.22	0.19
2041	16.95	13.39	-3.57	----	0.03	0.22	0.19
2042	16.92	13.39	-3.53	----	0.03	0.22	0.19
2043	16.89	13.39	-3.51	----	0.03	0.22	0.19
2044	16.88	13.39	-3.49	----	0.03	0.22	0.19
2045	16.86	13.39	-3.47	----	0.04	0.22	0.18
2046	16.86	13.39	-3.47	----	0.04	0.22	0.18
2047	16.85	13.39	-3.46	----	0.04	0.22	0.18
2048	16.83	13.39	-3.44	----	0.04	0.22	0.18
2049	16.83	13.39	-3.44	----	0.05	0.22	0.18
2050	16.83	13.39	-3.44	----	0.05	0.22	0.17
2051	16.84	13.39	-3.45	----	0.05	0.22	0.17
2052	16.86	13.40	-3.47	----	0.05	0.22	0.17
2053	16.89	13.40	-3.49	----	0.06	0.22	0.17
2054	16.93	13.40	-3.53	----	0.06	0.22	0.16
2055	16.97	13.40	-3.57	----	0.06	0.22	0.16
2056	17.02	13.41	-3.61	----	0.06	0.22	0.16
2057	17.07	13.41	-3.66	----	0.07	0.22	0.16
2058	17.12	13.41	-3.70	----	0.07	0.23	0.16
2059	17.17	13.42	-3.75	----	0.07	0.23	0.15
2060	17.22	13.42	-3.79	----	0.08	0.23	0.15
2061	17.26	13.42	-3.84	----	0.08	0.23	0.15
2062	17.31	13.43	-3.88	----	0.08	0.23	0.15
2063	17.35	13.43	-3.92	----	0.08	0.23	0.14
2064	17.40	13.43	-3.97	----	0.09	0.23	0.14
2065	17.45	13.44	-4.01	----	0.09	0.23	0.14
2066	17.49	13.44	-4.05	----	0.09	0.23	0.14
2067	17.54	13.44	-4.10	----	0.09	0.23	0.14
2068	17.59	13.45	-4.14	----	0.09	0.23	0.13
2069	17.64	13.45	-4.19	----	0.10	0.23	0.13
2070	17.68	13.45	-4.23	----	0.10	0.23	0.13
2071	17.72	13.45	-4.27	----	0.10	0.23	0.13
2072	17.76	13.46	-4.30	----	0.10	0.23	0.13
2073	17.79	13.46	-4.33	----	0.10	0.23	0.13
2074	17.81	13.46	-4.35	----	0.10	0.23	0.13
2075	17.83	13.46	-4.36	----	0.11	0.23	0.13
2076	17.84	13.46	-4.37	----	0.11	0.23	0.13
2077	17.84	13.46	-4.38	----	0.11	0.23	0.13
2078	17.85	13.46	-4.38	----	0.11	0.23	0.12
2079	17.86	13.47	-4.39	----	0.11	0.23	0.12
2080	17.87	13.47	-4.40	----	0.11	0.23	0.12
2081	17.89	13.47	-4.42	----	0.11	0.23	0.12
2082	17.91	13.47	-4.44	----	0.11	0.23	0.12
2083	17.94	13.47	-4.47	----	0.11	0.23	0.12
2084	17.98	13.47	-4.51	----	0.11	0.23	0.12
2085	18.03	13.48	-4.55	----	0.11	0.23	0.12
2086	18.08	13.48	-4.60	----	0.11	0.24	0.12
2087	18.13	13.48	-4.65	----	0.11	0.24	0.12
2088	18.18	13.48	-4.70	----	0.11	0.24	0.12

				Summarized Estimates

	Proposal				Change from Present Law
Years	Cost rate	Income rate	Actuarial balance	Year of reserve depletion¹	Cost rate	Income rate	Actuarial balance

Based on Intermediate Assumptions of the 2013 Trustees Report.
2013-2087	16.64%	14.07%	-2.57%	2034	0.04%	0.19%	0.15%

¹ Under present law, the year of Trust Fund reserve depletion is 2033.


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Detailed Single Year Tables

Description of Proposed Provision: Beginning in 2021, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017, with the threshold wage-indexed after 2021. Provide proportional benefit credit for additional earnings taxed.

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates

Description of Proposed Provision:
Beginning in 2021, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017, with the threshold wage-indexed after 2021. Provide proportional benefit credit for additional earnings taxed.