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 2019-2024). 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 |
Current Law |
Provision |
| 2017 | 298 | 298 |
| 2018 | 287 | 287 |
| 2019 | 273 | 273 |
| 2020 | 259 | 260 |
| 2021 | 245 | 249 |
| 2022 | 230 | 239 |
| 2023 | 215 | 228 |
| 2024 | 199 | 218 |
| 2025 | 182 | 207 |
| 2026 | 165 | 196 |
| 2027 | 148 | 184 |
| 2028 | 130 | 172 |
| 2029 | 112 | 160 |
| 2030 | 94 | 148 |
| 2031 | 75 | 135 |
| 2032 | 56 | 123 |
| 2033 | 37 | 109 |
| 2034 | 16 | 95 |
| 2035 | -4 | 81 |
| 2036 | -26 | 66 |
| 2037 | -47 | 51 |
| 2038 | -70 | 36 |
| 2039 | -92 | 20 |
| 2040 | -115 | 5 |
| 2041 | -138 | -11 |
| 2042 | -161 | -26 |
| 2043 | -184 | -41 |
| 2044 | -207 | -57 |
| 2045 | -230 | -72 |
| 2046 | -253 | -87 |
| 2047 | -276 | -102 |
| 2048 | -300 | -117 |
| 2049 | -323 | -132 |
| 2050 | -346 | -148 |
| 2051 | -370 | -163 |
| 2052 | -393 | -178 |
| 2053 | -417 | -193 |
| 2054 | -440 | -208 |
| 2055 | -464 | -224 |
| 2056 | -487 | -239 |
| 2057 | -511 | -255 |
| 2058 | -536 | -271 |
| 2059 | -560 | -288 |
| 2060 | -585 | -304 |
| 2061 | -611 | -322 |
| 2062 | -637 | -339 |
| 2063 | -663 | -357 |
| 2064 | -690 | -375 |
| 2065 | -717 | -394 |
| 2066 | -745 | -413 |
| 2067 | -772 | -432 |
| 2068 | -801 | -451 |
| 2069 | -829 | -471 |
| 2070 | -858 | -492 |
| 2071 | -888 | -512 |
| 2072 | -918 | -534 |
| 2073 | -949 | -556 |
| 2074 | -981 | -578 |
| 2075 | -1014 | -601 |
| 2076 | -1047 | -624 |
| 2077 | -1082 | -649 |
| 2078 | -1117 | -673 |
| 2079 | -1153 | -699 |
| 2080 | -1190 | -724 |
| 2081 | -1227 | -750 |
| 2082 | -1264 | -775 |
| 2083 | -1300 | -801 |
| 2084 | -1337 | -827 |
| 2085 | -1374 | -853 |
| 2086 | -1410 | -878 |
| 2087 | -1446 | -904 |
| 2088 | -1483 | -930 |
| 2089 | -1520 | -956 |
| 2090 | -1557 | -982 |
| 2091 | -1595 | -1009 |
| 2092 | -1633 | -1037 |
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