Proposed Provision: Eliminate the taxable maximum in years 2026 and later. Phase in elimination by taxing all earnings above the current-law taxable maximum at: 1.24 percent in 2017, 2.48 percent in 2018, and so on, up to 11.16 percent in 2025. Provide benefit credit for earnings above the current-law taxable maximum. Create a new bend point at the current-law taxable maximum with a 3 percent formula factor applying above the new bend point.

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

  Income Rates Cost Rates
Year Present Law Provision Present Law Provision
201412.712.714.014.0
201512.912.914.014.0
201612.912.914.014.0
201712.913.214.014.0
201812.913.414.014.0
201912.913.714.114.1
202013.013.914.314.3
202113.014.214.514.5
202213.014.414.714.7
202313.014.715.015.0
202413.114.915.315.3
202513.115.215.515.6
202613.115.415.815.8
202713.115.416.016.1
202813.115.416.216.3
202913.115.516.416.5
203013.115.516.616.7
203113.215.516.716.8
203213.215.516.916.9
203313.215.517.017.0
203413.215.517.017.1
203513.215.517.117.2
203613.215.517.117.2
203713.215.517.117.3
203813.215.517.117.3
203913.215.517.117.3
204013.215.517.117.2
204113.215.517.017.2
204213.215.517.017.2
204313.215.517.017.2
204413.215.517.017.1
204513.215.516.917.1
204613.215.616.917.1
204713.215.616.917.1
204813.215.616.917.1
204913.215.616.917.1
205013.215.616.917.1
205113.215.616.917.1
205213.215.616.917.1
205313.215.616.917.2
205413.215.617.017.2
205513.215.617.017.3
205613.215.617.117.3
205713.215.617.117.4
205813.215.617.217.4
205913.215.617.217.5
206013.215.617.317.5
206113.215.617.317.6
206213.215.617.417.6
206313.215.617.417.7
206413.215.617.417.7
206513.215.617.517.8
206613.215.617.517.8
206713.315.617.617.9
206813.315.617.617.9
206913.315.617.718.0
207013.315.717.718.0
207113.315.717.818.0
207213.315.717.818.1
207313.315.717.818.1
207413.315.717.918.1
207513.315.717.918.1
207613.315.717.918.2
207713.315.717.918.2
207813.315.717.918.2
207913.315.717.918.2
208013.315.717.918.2
208113.315.717.918.2
208213.315.717.918.2
208313.315.718.018.2
208413.315.718.018.3
208513.315.718.018.3
208613.315.718.118.3
208713.315.718.118.4
208813.315.718.218.4
208913.315.718.218.5
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