Detailed Single Year Tables

Payroll Taxes (including maximum taxable)	Description of Proposed Provision: Beginning in 2022, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 in 2017, with the threshold wage-indexed after 2022. Do not provide 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
2014	13.95	12.67	-1.29	320	0.00	0.00	0.00
2015	13.97	12.92	-1.05	306	0.00	0.00	0.00
2016	13.97	12.89	-1.08	292	0.00	0.00	0.00
2017	13.97	12.91	-1.06	277	0.00	0.00	0.00
2018	14.02	12.93	-1.08	262	0.00	0.00	0.00
2019	14.15	12.95	-1.20	248	0.00	0.00	0.00
2020	14.33	12.96	-1.37	233	0.00	0.00	0.00
2021	14.50	12.98	-1.52	219	0.00	0.00	0.00
2022	14.74	13.18	-1.56	203	0.00	0.17	0.17
2023	15.00	13.20	-1.80	189	0.00	0.17	0.17
2024	15.28	13.23	-2.05	173	0.00	0.17	0.17
2025	15.54	13.24	-2.30	157	0.00	0.17	0.17
2026	15.79	13.26	-2.53	141	0.00	0.17	0.17
2027	16.03	13.28	-2.75	125	0.00	0.17	0.17
2028	16.24	13.29	-2.95	108	0.00	0.17	0.17
2029	16.44	13.31	-3.13	90	0.00	0.17	0.17
2030	16.60	13.32	-3.28	72	0.00	0.17	0.17
2031	16.75	13.33	-3.41	53	0.00	0.17	0.18
2032	16.86	13.34	-3.52	34	0.00	0.17	0.18
2033	16.95	13.35	-3.60	13	0.00	0.17	0.18
2034	17.03	13.36	-3.68	----	0.00	0.17	0.18
2035	17.09	13.36	-3.73	----	0.00	0.17	0.18
2036	17.12	13.37	-3.76	----	0.00	0.17	0.18
2037	17.14	13.37	-3.77	----	0.00	0.17	0.18
2038	17.14	13.37	-3.77	----	0.00	0.17	0.18
2039	17.12	13.37	-3.74	----	0.00	0.17	0.18
2040	17.09	13.37	-3.71	----	0.00	0.17	0.18
2041	17.05	13.37	-3.68	----	0.00	0.18	0.18
2042	17.01	13.37	-3.64	----	0.00	0.18	0.18
2043	16.98	13.37	-3.61	----	0.00	0.18	0.18
2044	16.95	13.37	-3.58	----	0.00	0.18	0.18
2045	16.94	13.37	-3.57	----	0.00	0.18	0.18
2046	16.93	13.37	-3.55	----	0.00	0.18	0.18
2047	16.91	13.38	-3.54	----	0.00	0.18	0.18
2048	16.90	13.38	-3.53	----	0.00	0.18	0.18
2049	16.89	13.38	-3.51	----	0.00	0.18	0.18
2050	16.89	13.38	-3.51	----	0.00	0.18	0.18
2051	16.89	13.38	-3.51	----	0.00	0.18	0.18
2052	16.91	13.38	-3.53	----	0.00	0.18	0.18
2053	16.93	13.38	-3.55	----	0.00	0.18	0.18
2054	16.97	13.39	-3.58	----	0.00	0.18	0.18
2055	17.01	13.39	-3.62	----	0.00	0.18	0.18
2056	17.06	13.39	-3.66	----	0.00	0.18	0.18
2057	17.11	13.40	-3.71	----	0.00	0.18	0.18
2058	17.16	13.40	-3.76	----	0.00	0.18	0.18
2059	17.20	13.40	-3.80	----	0.00	0.18	0.18
2060	17.25	13.41	-3.85	----	-0.01	0.18	0.18
2061	17.30	13.41	-3.89	----	-0.01	0.18	0.18
2062	17.35	13.41	-3.93	----	-0.01	0.18	0.18
2063	17.40	13.42	-3.98	----	-0.01	0.18	0.18
2064	17.44	13.42	-4.02	----	-0.01	0.18	0.18
2065	17.49	13.42	-4.07	----	-0.01	0.18	0.18
2066	17.54	13.43	-4.11	----	-0.01	0.18	0.18
2067	17.59	13.43	-4.16	----	-0.01	0.18	0.18
2068	17.64	13.43	-4.20	----	-0.01	0.18	0.18
2069	17.69	13.44	-4.25	----	-0.01	0.18	0.18
2070	17.73	13.44	-4.29	----	-0.01	0.18	0.19
2071	17.78	13.44	-4.33	----	-0.01	0.18	0.19
2072	17.81	13.45	-4.36	----	-0.01	0.18	0.19
2073	17.84	13.45	-4.39	----	-0.01	0.18	0.19
2074	17.86	13.45	-4.41	----	-0.01	0.18	0.19
2075	17.87	13.45	-4.42	----	-0.01	0.18	0.19
2076	17.88	13.45	-4.43	----	-0.01	0.18	0.19
2077	17.89	13.45	-4.43	----	-0.01	0.18	0.19
2078	17.89	13.45	-4.43	----	-0.01	0.18	0.19
2079	17.89	13.45	-4.44	----	-0.01	0.18	0.19
2080	17.89	13.45	-4.44	----	-0.01	0.18	0.19
2081	17.91	13.45	-4.45	----	-0.01	0.18	0.19
2082	17.93	13.46	-4.47	----	-0.01	0.18	0.19
2083	17.96	13.46	-4.50	----	-0.01	0.18	0.19
2084	17.99	13.46	-4.53	----	-0.01	0.18	0.19
2085	18.04	13.46	-4.57	----	-0.01	0.18	0.19
2086	18.08	13.46	-4.62	----	-0.01	0.18	0.19
2087	18.13	13.47	-4.66	----	-0.01	0.18	0.19
2088	18.18	13.47	-4.71	----	-0.01	0.18	0.19
2089	18.23	13.47	-4.76	----	-0.01	0.18	0.19

				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 2014 Trustees Report.
2014-2088	16.77%	14.04%	-2.73%	2033	-0.00%	0.15%	0.16%

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 2022, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 in 2017, with the threshold wage-indexed after 2022. Do not provide benefit credit for additional earnings taxed.

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates

Description of Proposed Provision:
Beginning in 2022, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 in 2017, with the threshold wage-indexed after 2022. Do not provide benefit credit for additional earnings taxed.