Proposed Provision: E2.2. Eliminate the taxable maximum in years 2019 and later, and apply full 12.4 percent payroll tax rate to all earnings. Provide benefit credit for earnings above the current-law taxable maximum.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2018 | 288 | 288 |
| 2019 | 272 | 272 |
| 2020 | 256 | 271 |
| 2021 | 239 | 270 |
| 2022 | 223 | 268 |
| 2023 | 206 | 265 |
| 2024 | 188 | 261 |
| 2025 | 171 | 257 |
| 2026 | 154 | 252 |
| 2027 | 137 | 247 |
| 2028 | 120 | 242 |
| 2029 | 104 | 237 |
| 2030 | 86 | 232 |
| 2031 | 69 | 227 |
| 2032 | 51 | 222 |
| 2033 | 33 | 217 |
| 2034 | 14 | 212 |
| 2035 | -5 | 206 |
| 2036 | -25 | 200 |
| 2037 | -46 | 194 |
| 2038 | -67 | 188 |
| 2039 | -88 | 181 |
| 2040 | -110 | 175 |
| 2041 | -132 | 168 |
| 2042 | -154 | 162 |
| 2043 | -176 | 156 |
| 2044 | -199 | 149 |
| 2045 | -221 | 143 |
| 2046 | -244 | 137 |
| 2047 | -267 | 130 |
| 2048 | -289 | 124 |
| 2049 | -312 | 117 |
| 2050 | -335 | 111 |
| 2051 | -358 | 104 |
| 2052 | -381 | 98 |
| 2053 | -403 | 91 |
| 2054 | -426 | 84 |
| 2055 | -450 | 76 |
| 2056 | -473 | 69 |
| 2057 | -496 | 61 |
| 2058 | -520 | 52 |
| 2059 | -544 | 44 |
| 2060 | -569 | 35 |
| 2061 | -594 | 26 |
| 2062 | -619 | 16 |
| 2063 | -645 | 6 |
| 2064 | -671 | -4 |
| 2065 | -698 | -15 |
| 2066 | -725 | -26 |
| 2067 | -752 | -38 |
| 2068 | -780 | -50 |
| 2069 | -808 | -62 |
| 2070 | -837 | -75 |
| 2071 | -866 | -88 |
| 2072 | -896 | -101 |
| 2073 | -927 | -115 |
| 2074 | -958 | -129 |
| 2075 | -990 | -144 |
| 2076 | -1023 | -158 |
| 2077 | -1057 | -174 |
| 2078 | -1092 | -189 |
| 2079 | -1128 | -205 |
| 2080 | -1165 | -221 |
| 2081 | -1202 | -238 |
| 2082 | -1240 | -254 |
| 2083 | -1278 | -270 |
| 2084 | -1316 | -287 |
| 2085 | -1354 | -304 |
| 2086 | -1392 | -320 |
| 2087 | -1430 | -337 |
| 2088 | -1468 | -354 |
| 2089 | -1505 | -370 |
| 2090 | -1543 | -387 |
| 2091 | -1580 | -404 |
| 2092 | -1618 | -421 |
| 2093 | -1655 | -439 |
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