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Detailed Single Year Tables
Payroll Taxes (including maximum taxable)

Description of 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.

 

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
Cost
rate		 Income
rate		 Annual
balance
201614.0512.94-1.10
303
0.000.000.00
201713.7213.16-0.55
293
0.000.250.25
201813.8613.45-0.40
279
0.000.500.50
201913.9913.68-0.31
267
0.000.710.71
202014.1313.87-0.26
256
0.000.890.89
202114.2714.06-0.21
247
0.001.061.06
202214.4914.25-0.24
238
0.001.211.21
202314.7614.40-0.36
229
0.001.341.34
202415.0314.55-0.48
220
0.001.461.45
202515.2914.67-0.62
211
0.011.561.55
202615.4814.79-0.69
203
0.011.671.66
202715.6614.81-0.85
196
0.011.671.66
202815.8314.83-1.00
189
0.021.671.66
202915.9914.84-1.15
182
0.021.671.65
203016.1314.86-1.27
175
0.031.681.65
203116.2614.87-1.39
168
0.031.681.64
203216.3714.88-1.49
160
0.041.681.64
203316.4614.89-1.57
152
0.051.681.63
203416.5214.89-1.63
144
0.051.681.63
203516.5614.90-1.66
135
0.061.681.62
203616.6214.91-1.72
127
0.071.681.61
203716.6814.91-1.76
117
0.081.691.61
203816.7014.92-1.78
108
0.081.691.60
203916.7014.92-1.78
99
0.091.691.60
204016.6914.92-1.77
89
0.101.691.59
204116.6714.92-1.75
80
0.111.691.58
204216.6514.93-1.73
71
0.121.691.58
204316.6314.93-1.70
61
0.131.701.57
204416.6014.93-1.68
52
0.131.701.56
204516.5914.93-1.66
43
0.141.701.55
204616.5814.93-1.65
33
0.151.701.55
204716.5614.93-1.63
24
0.161.701.54
204816.5614.93-1.62
15
0.171.701.53
204916.5514.94-1.61
5
0.181.711.52
205016.5514.94-1.61
----
0.191.711.52
205116.5614.94-1.62
----
0.201.711.51
205216.5814.95-1.64
----
0.211.711.50
205316.6114.95-1.66
----
0.221.711.49
205416.6514.95-1.70
----
0.231.711.49
205516.7014.96-1.74
----
0.241.721.48
205616.7614.97-1.79
----
0.251.721.47
205716.8214.97-1.85
----
0.261.721.46
205816.8814.98-1.90
----
0.271.721.45
205916.9414.98-1.95
----
0.281.721.44
206017.0014.99-2.01
----
0.291.731.44
206117.0614.99-2.06
----
0.301.731.43
206217.1215.00-2.12
----
0.311.731.42
206317.1715.01-2.17
----
0.321.731.42
206417.2315.01-2.22
----
0.331.731.41
206517.2915.02-2.27
----
0.331.741.40
206617.3515.02-2.33
----
0.341.741.40
206717.4115.03-2.38
----
0.351.741.39
206817.4715.03-2.44
----
0.361.741.39
206917.5315.04-2.49
----
0.361.741.38
207017.5915.04-2.54
----
0.371.751.38
207117.6415.05-2.59
----
0.371.751.37
207217.6815.05-2.63
----
0.381.751.37
207317.7315.06-2.67
----
0.391.751.37
207417.7615.06-2.70
----
0.391.751.36
207517.7915.06-2.72
----
0.391.751.36
207617.8015.07-2.74
----
0.401.761.36
207717.8115.07-2.74
----
0.401.761.36
207817.8115.07-2.74
----
0.401.761.36
207917.8115.07-2.74
----
0.401.761.36
208017.8115.07-2.74
----
0.411.761.35
208117.8115.07-2.74
----
0.411.761.35
208217.8215.08-2.74
----
0.411.761.35
208317.8315.08-2.75
----
0.411.761.35
208417.8515.08-2.77
----
0.411.771.35
208517.8815.08-2.80
----
0.421.771.35
208617.9215.09-2.83
----
0.421.771.35
208717.9615.09-2.87
----
0.421.771.35
208818.0115.09-2.91
----
0.421.771.35
208918.0515.10-2.96
----
0.421.771.35
209018.1015.10-3.00
----
0.431.771.35
209118.1515.11-3.04
----
0.431.771.35



 

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 2016 Trustees Report.
2016-2090 16.69% 15.44% -1.26%
2049
0.19% 1.59% 1.40%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified August 30, 2016