Proposed Provision: E1.4. Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2023-2042, until the rate reaches 14.4 percent in 2042 and later.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2017 | 298 | 298 |
| 2018 | 287 | 287 |
| 2019 | 273 | 273 |
| 2020 | 259 | 259 |
| 2021 | 245 | 245 |
| 2022 | 230 | 230 |
| 2023 | 215 | 215 |
| 2024 | 199 | 199 |
| 2025 | 182 | 184 |
| 2026 | 165 | 169 |
| 2027 | 148 | 154 |
| 2028 | 130 | 139 |
| 2029 | 112 | 124 |
| 2030 | 94 | 110 |
| 2031 | 75 | 96 |
| 2032 | 56 | 82 |
| 2033 | 37 | 68 |
| 2034 | 16 | 54 |
| 2035 | -4 | 40 |
| 2036 | -26 | 26 |
| 2037 | -47 | 13 |
| 2038 | -70 | -1 |
| 2039 | -92 | -14 |
| 2040 | -115 | -26 |
| 2041 | -138 | -38 |
| 2042 | -161 | -49 |
| 2043 | -184 | -60 |
| 2044 | -207 | -70 |
| 2045 | -230 | -80 |
| 2046 | -253 | -91 |
| 2047 | -276 | -101 |
| 2048 | -300 | -111 |
| 2049 | -323 | -120 |
| 2050 | -346 | -130 |
| 2051 | -370 | -140 |
| 2052 | -393 | -150 |
| 2053 | -417 | -159 |
| 2054 | -440 | -169 |
| 2055 | -464 | -179 |
| 2056 | -487 | -189 |
| 2057 | -511 | -199 |
| 2058 | -536 | -210 |
| 2059 | -560 | -220 |
| 2060 | -585 | -231 |
| 2061 | -611 | -243 |
| 2062 | -637 | -255 |
| 2063 | -663 | -267 |
| 2064 | -690 | -279 |
| 2065 | -717 | -292 |
| 2066 | -745 | -304 |
| 2067 | -772 | -318 |
| 2068 | -801 | -331 |
| 2069 | -829 | -345 |
| 2070 | -858 | -359 |
| 2071 | -888 | -374 |
| 2072 | -918 | -389 |
| 2073 | -949 | -405 |
| 2074 | -981 | -421 |
| 2075 | -1014 | -437 |
| 2076 | -1047 | -454 |
| 2077 | -1082 | -471 |
| 2078 | -1117 | -489 |
| 2079 | -1153 | -507 |
| 2080 | -1190 | -525 |
| 2081 | -1227 | -544 |
| 2082 | -1264 | -562 |
| 2083 | -1300 | -581 |
| 2084 | -1337 | -599 |
| 2085 | -1374 | -617 |
| 2086 | -1410 | -636 |
| 2087 | -1446 | -654 |
| 2088 | -1483 | -673 |
| 2089 | -1520 | -692 |
| 2090 | -1557 | -711 |
| 2091 | -1595 | -730 |
| 2092 | -1633 | -750 |
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