Proposed Provision: E3.15. Increase the taxable maximum such that 90 percent of earnings are subject to the payroll tax (phased in 2017-2026). In addition, apply a tax rate of 6.2 percent for earnings above the revised taxable maximum (phased in from 2017-2026). Provide benefit credit for earnings taxed up to the revised taxable maximum.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Present Law |
Provision |
| 2016 | 303 | 303 |
| 2017 | 293 | 293 |
| 2018 | 277 | 279 |
| 2019 | 262 | 267 |
| 2020 | 246 | 256 |
| 2021 | 231 | 247 |
| 2022 | 216 | 238 |
| 2023 | 200 | 229 |
| 2024 | 183 | 220 |
| 2025 | 165 | 211 |
| 2026 | 149 | 203 |
| 2027 | 132 | 196 |
| 2028 | 115 | 189 |
| 2029 | 98 | 182 |
| 2030 | 81 | 175 |
| 2031 | 64 | 168 |
| 2032 | 46 | 160 |
| 2033 | 27 | 152 |
| 2034 | 8 | 144 |
| 2035 | -11 | 135 |
| 2036 | -30 | 127 |
| 2037 | -50 | 117 |
| 2038 | -71 | 108 |
| 2039 | -91 | 99 |
| 2040 | -112 | 89 |
| 2041 | -133 | 80 |
| 2042 | -154 | 71 |
| 2043 | -176 | 61 |
| 2044 | -197 | 52 |
| 2045 | -218 | 43 |
| 2046 | -240 | 33 |
| 2047 | -262 | 24 |
| 2048 | -283 | 15 |
| 2049 | -305 | 5 |
| 2050 | -327 | -4 |
| 2051 | -349 | -14 |
| 2052 | -371 | -23 |
| 2053 | -393 | -33 |
| 2054 | -415 | -43 |
| 2055 | -437 | -53 |
| 2056 | -460 | -64 |
| 2057 | -482 | -75 |
| 2058 | -506 | -86 |
| 2059 | -529 | -97 |
| 2060 | -553 | -109 |
| 2061 | -578 | -121 |
| 2062 | -603 | -134 |
| 2063 | -628 | -147 |
| 2064 | -654 | -161 |
| 2065 | -680 | -174 |
| 2066 | -706 | -188 |
| 2067 | -733 | -203 |
| 2068 | -760 | -218 |
| 2069 | -788 | -233 |
| 2070 | -816 | -248 |
| 2071 | -845 | -264 |
| 2072 | -874 | -281 |
| 2073 | -905 | -298 |
| 2074 | -935 | -315 |
| 2075 | -967 | -333 |
| 2076 | -1000 | -351 |
| 2077 | -1033 | -370 |
| 2078 | -1068 | -389 |
| 2079 | -1102 | -408 |
| 2080 | -1138 | -427 |
| 2081 | -1173 | -447 |
| 2082 | -1208 | -466 |
| 2083 | -1243 | -486 |
| 2084 | -1279 | -506 |
| 2085 | -1314 | -526 |
| 2086 | -1349 | -546 |
| 2087 | -1384 | -566 |
| 2088 | -1419 | -586 |
| 2089 | -1455 | -607 |
| 2090 | -1491 | -628 |
| 2091 | -1528 | -650 |
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