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
2017298298
2018287287
2019273273
2020259260
2021245249
2022230239
2023215228
2024199218
2025182207
2026165196
2027148184
2028130172
2029112160
203094148
203175135
203256123
203337109
20341695
2035-481
2036-2666
2037-4751
2038-7036
2039-9220
2040-1155
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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