Proposed Provision: F5. Tax Reform for Business: Establish a value added tax (VAT) of 3.0 percent for 2020 and 6.5 percent for 2021 and later. Assume about 75% of personal consumption expenditures is subject to the VAT.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2018 | 288 | 288 |
| 2019 | 272 | 272 |
| 2020 | 256 | 256 |
| 2021 | 239 | 236 |
| 2022 | 223 | 217 |
| 2023 | 206 | 197 |
| 2024 | 188 | 177 |
| 2025 | 171 | 157 |
| 2026 | 154 | 138 |
| 2027 | 137 | 119 |
| 2028 | 120 | 100 |
| 2029 | 104 | 82 |
| 2030 | 86 | 63 |
| 2031 | 69 | 43 |
| 2032 | 51 | 24 |
| 2033 | 33 | 4 |
| 2034 | 14 | -17 |
| 2035 | -5 | -38 |
| 2036 | -25 | -60 |
| 2037 | -46 | -82 |
| 2038 | -67 | -105 |
| 2039 | -88 | -128 |
| 2040 | -110 | -151 |
| 2041 | -132 | -175 |
| 2042 | -154 | -198 |
| 2043 | -176 | -222 |
| 2044 | -199 | -246 |
| 2045 | -221 | -270 |
| 2046 | -244 | -294 |
| 2047 | -267 | -318 |
| 2048 | -289 | -342 |
| 2049 | -312 | -366 |
| 2050 | -335 | -390 |
| 2051 | -358 | -414 |
| 2052 | -381 | -438 |
| 2053 | -403 | -462 |
| 2054 | -426 | -485 |
| 2055 | -450 | -509 |
| 2056 | -473 | -533 |
| 2057 | -496 | -557 |
| 2058 | -520 | -582 |
| 2059 | -544 | -606 |
| 2060 | -569 | -632 |
| 2061 | -594 | -657 |
| 2062 | -619 | -683 |
| 2063 | -645 | -709 |
| 2064 | -671 | -736 |
| 2065 | -698 | -764 |
| 2066 | -725 | -791 |
| 2067 | -752 | -819 |
| 2068 | -780 | -848 |
| 2069 | -808 | -876 |
| 2070 | -837 | -906 |
| 2071 | -866 | -935 |
| 2072 | -896 | -966 |
| 2073 | -927 | -997 |
| 2074 | -958 | -1029 |
| 2075 | -990 | -1062 |
| 2076 | -1023 | -1095 |
| 2077 | -1057 | -1130 |
| 2078 | -1092 | -1166 |
| 2079 | -1128 | -1203 |
| 2080 | -1165 | -1240 |
| 2081 | -1202 | -1278 |
| 2082 | -1240 | -1317 |
| 2083 | -1278 | -1356 |
| 2084 | -1316 | -1395 |
| 2085 | -1354 | -1434 |
| 2086 | -1392 | -1473 |
| 2087 | -1430 | -1512 |
| 2088 | -1468 | -1550 |
| 2089 | -1505 | -1589 |
| 2090 | -1543 | -1627 |
| 2091 | -1580 | -1665 |
| 2092 | -1618 | -1703 |
| 2093 | -1655 | -1742 |
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