Proposed Provision: H6. Eliminate federal income taxation of OASDI benefits that is credited to the OASI and DI Trust Funds for 2054 and later. Phase out OASDI taxation of benefits by increasing relevant "income" thresholds from 2045 through 2053 as follows, for single/joint tax filers: (a) 2045 = $32,500/$65,000; (b) 2046 = $40,000/$80,000; (c) 2047 = $47,500/$95,000; (d) 2048 = $55,000/$110,000; (e) 2049 = $62,500/$125,000; (f) 2050 = $70,000/$140,000; (g) 2051 = $77,500/$155,000; (h) 2052 = $85,000/$170,000; and (i) 2053 = $92,500/$185,000. Taxation of benefits revenues for the Hospital Insurance (HI) Trust Fund would be maintained at the same level as if the current-law computation applied.

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

Year Current Law Provision
2018288288
2019272272
2020256256
2021239239
2022223223
2023206206
2024188188
2025171171
2026154154
2027137137
2028120120
2029104104
20308686
20316969
20325151
20333333
20341414
2035-5-5
2036-25-25
2037-46-46
2038-67-67
2039-88-88
2040-110-110
2041-132-132
2042-154-154
2043-176-176
2044-199-199
2045-221-221
2046-244-244
2047-267-268
2048-289-291
2049-312-315
2050-335-339
2051-358-363
2052-381-388
2053-403-413
2054-426-438
2055-450-466
2056-473-495
2057-496-524
2058-520-554
2059-544-583
2060-569-614
2061-594-644
2062-619-676
2063-645-708
2064-671-740
2065-698-773
2066-725-806
2067-752-839
2068-780-873
2069-808-908
2070-837-943
2071-866-978
2072-896-1015
2073-927-1052
2074-958-1090
2075-990-1128
2076-1023-1168
2077-1057-1209
2078-1092-1252
2079-1128-1295
2080-1165-1339
2081-1202-1384
2082-1240-1429
2083-1278-1475
2084-1316-1521
2085-1354-1567
2086-1392-1613
2087-1430-1659
2088-1468-1705
2089-1505-1750
2090-1543-1795
2091-1580-1840
2092-1618-1886
2093-1655-1931
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