Proposed Provision: E2.3. Eliminate the taxable maximum in years 2017 and later, and apply full 12.4 percent payroll tax rate to all earnings. Provide benefit credit for earnings above the current-law taxable maximum, adding a bend point at the current-law taxable maximum and applying a formula factor of 3 percent for AIME above this new bend point.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Present Law |
Provision |
| 2016 | 303 | 303 |
| 2017 | 293 | 293 |
| 2018 | 277 | 293 |
| 2019 | 262 | 294 |
| 2020 | 246 | 294 |
| 2021 | 231 | 294 |
| 2022 | 216 | 292 |
| 2023 | 200 | 289 |
| 2024 | 183 | 285 |
| 2025 | 165 | 280 |
| 2026 | 149 | 275 |
| 2027 | 132 | 270 |
| 2028 | 115 | 266 |
| 2029 | 98 | 262 |
| 2030 | 81 | 259 |
| 2031 | 64 | 255 |
| 2032 | 46 | 251 |
| 2033 | 27 | 247 |
| 2034 | 8 | 243 |
| 2035 | -11 | 239 |
| 2036 | -30 | 234 |
| 2037 | -50 | 229 |
| 2038 | -71 | 224 |
| 2039 | -91 | 219 |
| 2040 | -112 | 214 |
| 2041 | -133 | 209 |
| 2042 | -154 | 205 |
| 2043 | -176 | 200 |
| 2044 | -197 | 196 |
| 2045 | -218 | 192 |
| 2046 | -240 | 187 |
| 2047 | -262 | 183 |
| 2048 | -283 | 179 |
| 2049 | -305 | 175 |
| 2050 | -327 | 171 |
| 2051 | -349 | 167 |
| 2052 | -371 | 163 |
| 2053 | -393 | 158 |
| 2054 | -415 | 154 |
| 2055 | -437 | 149 |
| 2056 | -460 | 144 |
| 2057 | -482 | 139 |
| 2058 | -506 | 133 |
| 2059 | -529 | 127 |
| 2060 | -553 | 121 |
| 2061 | -578 | 114 |
| 2062 | -603 | 107 |
| 2063 | -628 | 100 |
| 2064 | -654 | 93 |
| 2065 | -680 | 85 |
| 2066 | -706 | 77 |
| 2067 | -733 | 69 |
| 2068 | -760 | 60 |
| 2069 | -788 | 51 |
| 2070 | -816 | 42 |
| 2071 | -845 | 32 |
| 2072 | -874 | 22 |
| 2073 | -905 | 12 |
| 2074 | -935 | 2 |
| 2075 | -967 | -9 |
| 2076 | -1000 | -20 |
| 2077 | -1033 | -31 |
| 2078 | -1068 | -42 |
| 2079 | -1102 | -53 |
| 2080 | -1138 | -64 |
| 2081 | -1173 | -76 |
| 2082 | -1208 | -87 |
| 2083 | -1243 | -99 |
| 2084 | -1279 | -111 |
| 2085 | -1314 | -123 |
| 2086 | -1349 | -135 |
| 2087 | -1384 | -147 |
| 2088 | -1419 | -160 |
| 2089 | -1455 | -172 |
| 2090 | -1491 | -186 |
| 2091 | -1528 | -199 |
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