Proposed Provision: E3.19. Increase the taxable maximum such that 90 percent of earnings would be subject to the payroll tax (phased in linearly from 2018-2023). Provide benefit credit for additional earnings taxed, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from additional annual earnings taxed over the current-law taxable maximum; and (2) a formula factor of 2.5 percent on this newly computed "AIME+".

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

Year Present Law Provision
2016303303
2017293293
2018277277
2019262264
2020246253
2021231244
2022216234
2023200224
2024183213
2025165202
2026149191
2027132180
2028115169
202998158
203081147
203164136
203246125
203327113
20348101
2035-1189
2036-3076
2037-5063
2038-7150
2039-9137
2040-11223
2041-13310
2042-154-4
2043-176-17
2044-197-30
2045-218-44
2046-240-57
2047-262-71
2048-283-84
2049-305-98
2050-327-111
2051-349-125
2052-371-138
2053-393-152
2054-415-166
2055-437-180
2056-460-194
2057-482-209
2058-506-224
2059-529-239
2060-553-255
2061-578-271
2062-603-287
2063-628-304
2064-654-321
2065-680-338
2066-706-356
2067-733-374
2068-760-393
2069-788-411
2070-816-431
2071-845-450
2072-874-471
2073-905-491
2074-935-512
2075-967-534
2076-1000-557
2077-1033-580
2078-1068-603
2079-1102-627
2080-1138-651
2081-1173-675
2082-1208-699
2083-1243-723
2084-1279-747
2085-1314-771
2086-1349-795
2087-1384-820
2088-1419-844
2089-1455-869
2090-1491-895
2091-1528-920
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