Proposed Provision: E3.13. Beginning in 2024, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 in 2017, with the threshold wage-indexed after 2024. Do not provide benefit credit for additional earnings taxed.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Present Law Provision
2016303303
2017293293
2018277277
2019262262
2020246246
2021231231
2022216216
2023200200
2024183183
2025165166
2026149151
2027132135
2028115119
202998103
20308187
20316471
20324654
20332736
2034819
2035-111
2036-30-18
2037-50-37
2038-71-56
2039-91-75
2040-112-95
2041-133-115
2042-154-135
2043-176-155
2044-197-175
2045-218-195
2046-240-215
2047-262-236
2048-283-256
2049-305-277
2050-327-297
2051-349-318
2052-371-338
2053-393-359
2054-415-380
2055-437-401
2056-460-422
2057-482-444
2058-506-465
2059-529-488
2060-553-510
2061-578-533
2062-603-557
2063-628-581
2064-654-605
2065-680-630
2066-706-655
2067-733-681
2068-760-706
2069-788-733
2070-816-759
2071-845-787
2072-874-815
2073-905-843
2074-935-873
2075-967-903
2076-1000-934
2077-1033-966
2078-1068-998
2079-1102-1031
2080-1138-1065
2081-1173-1098
2082-1208-1132
2083-1243-1165
2084-1279-1199
2085-1314-1232
2086-1349-1265
2087-1384-1299
2088-1419-1332
2089-1455-1366
2090-1491-1401
2091-1528-1436
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