Detailed Single Year Tables

Payroll Taxes (including maximum taxable)	Description of Proposed Provision: Increase the taxable maximum such that 90 percent of earnings would be subject to the payroll tax (phased in 2016-2021). Provide benefit credit for earnings up to the revised taxable maximum.

			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	13.13	-0.84	292	0.00	0.24	0.24
2017	13.97	13.37	-0.60	279	0.00	0.46	0.46
2018	14.02	13.57	-0.44	267	0.00	0.64	0.64
2019	14.15	13.74	-0.41	257	0.00	0.79	0.79
2020	14.33	13.88	-0.45	247	0.00	0.93	0.92
2021	14.50	14.03	-0.48	239	0.00	1.05	1.04
2022	14.74	14.05	-0.69	230	0.01	1.04	1.04
2023	15.01	14.06	-0.95	220	0.01	1.03	1.02
2024	15.29	14.08	-1.21	210	0.01	1.02	1.01
2025	15.56	14.10	-1.47	198	0.02	1.02	1.01
2026	15.82	14.11	-1.70	187	0.02	1.03	1.00
2027	16.06	14.13	-1.92	175	0.03	1.03	1.00
2028	16.28	14.15	-2.13	163	0.04	1.03	0.99
2029	16.48	14.17	-2.32	150	0.05	1.03	0.99
2030	16.66	14.18	-2.48	137	0.05	1.03	0.98
2031	16.81	14.19	-2.62	123	0.06	1.03	0.97
2032	16.93	14.20	-2.73	109	0.07	1.04	0.96
2033	17.03	14.21	-2.82	94	0.08	1.04	0.96
2034	17.12	14.22	-2.91	78	0.09	1.04	0.95
2035	17.19	14.23	-2.96	63	0.10	1.04	0.94
2036	17.23	14.23	-3.00	46	0.11	1.04	0.93
2037	17.26	14.24	-3.02	30	0.12	1.04	0.92
2038	17.26	14.24	-3.02	13	0.13	1.04	0.92
2039	17.25	14.24	-3.01	----	0.14	1.04	0.91
2040	17.23	14.24	-2.99	----	0.14	1.05	0.90
2041	17.20	14.24	-2.96	----	0.15	1.05	0.89
2042	17.18	14.25	-2.93	----	0.16	1.05	0.88
2043	17.15	14.25	-2.91	----	0.17	1.05	0.88
2044	17.14	14.25	-2.89	----	0.18	1.05	0.87
2045	17.14	14.25	-2.89	----	0.20	1.05	0.86
2046	17.14	14.25	-2.88	----	0.21	1.05	0.85
2047	17.13	14.26	-2.88	----	0.22	1.06	0.84
2048	17.13	14.26	-2.87	----	0.23	1.06	0.83
2049	17.13	14.26	-2.87	----	0.24	1.06	0.82
2050	17.14	14.26	-2.88	----	0.25	1.06	0.81
2051	17.16	14.27	-2.89	----	0.26	1.06	0.80
2052	17.18	14.27	-2.91	----	0.27	1.07	0.79
2053	17.22	14.27	-2.95	----	0.28	1.07	0.78
2054	17.27	14.28	-2.99	----	0.29	1.07	0.78
2055	17.32	14.29	-3.04	----	0.31	1.07	0.77
2056	17.38	14.29	-3.09	----	0.32	1.07	0.76
2057	17.44	14.30	-3.14	----	0.33	1.08	0.75
2058	17.50	14.30	-3.20	----	0.34	1.08	0.74
2059	17.56	14.31	-3.25	----	0.35	1.08	0.73
2060	17.62	14.31	-3.31	----	0.36	1.08	0.72
2061	17.68	14.32	-3.36	----	0.37	1.08	0.71
2062	17.73	14.32	-3.41	----	0.38	1.09	0.70
2063	17.79	14.33	-3.46	----	0.39	1.09	0.70
2064	17.85	14.33	-3.51	----	0.40	1.09	0.69
2065	17.90	14.34	-3.57	----	0.41	1.09	0.68
2066	17.96	14.34	-3.62	----	0.41	1.09	0.68
2067	18.02	14.35	-3.67	----	0.42	1.09	0.67
2068	18.07	14.35	-3.72	----	0.43	1.09	0.67
2069	18.13	14.36	-3.77	----	0.43	1.10	0.66
2070	18.18	14.36	-3.82	----	0.44	1.10	0.66
2071	18.23	14.36	-3.86	----	0.44	1.10	0.65
2072	18.27	14.37	-3.90	----	0.45	1.10	0.65
2073	18.30	14.37	-3.93	----	0.45	1.10	0.65
2074	18.32	14.37	-3.95	----	0.46	1.10	0.65
2075	18.34	14.38	-3.97	----	0.46	1.10	0.64
2076	18.35	14.38	-3.98	----	0.46	1.11	0.64
2077	18.36	14.38	-3.98	----	0.47	1.11	0.64
2078	18.36	14.38	-3.98	----	0.47	1.11	0.64
2079	18.36	14.38	-3.98	----	0.47	1.11	0.64
2080	18.37	14.38	-3.99	----	0.47	1.11	0.64
2081	18.39	14.38	-4.00	----	0.47	1.11	0.64
2082	18.41	14.39	-4.02	----	0.47	1.11	0.64
2083	18.44	14.39	-4.05	----	0.48	1.11	0.64
2084	18.48	14.39	-4.09	----	0.48	1.11	0.63
2085	18.52	14.39	-4.13	----	0.48	1.11	0.63
2086	18.57	14.40	-4.17	----	0.48	1.11	0.63
2087	18.62	14.40	-4.22	----	0.48	1.12	0.63
2088	18.68	14.41	-4.27	----	0.49	1.12	0.63
2089	18.73	14.41	-4.32	----	0.49	1.12	0.63

				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	16.98%	14.88%	-2.10%	2038	0.21%	0.99%	0.78%

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: Increase the taxable maximum such that 90 percent of earnings would be subject to the payroll tax (phased in 2016-2021). Provide benefit credit for earnings up to the revised taxable maximum.

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates

Description of Proposed Provision:
Increase the taxable maximum such that 90 percent of earnings would be subject to the payroll tax (phased in 2016-2021). Provide benefit credit for earnings up to the revised taxable maximum.