Proposed Provision: E3.2. Increase the taxable maximum such that 90 percent of earnings would be subject to the payroll tax (phased in 2020-2029). Do not provide benefit credit for additional earnings taxed.

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

Year Current Law Provision
2019273273
2020260260
2021245246
2022229232
2023213219
2024197205
2025180193
2026163180
2027147168
2028130157
2029114146
203097135
203180124
203263113
203346102
20342890
20351079
2036-967
2037-2854
2038-4742
2039-6729
2040-8715
2041-1082
2042-129-11
2043-150-25
2044-171-38
2045-192-52
2046-213-65
2047-234-79
2048-255-92
2049-276-105
2050-297-118
2051-318-131
2052-338-144
2053-359-158
2054-380-171
2055-401-184
2056-422-198
2057-444-211
2058-465-225
2059-487-239
2060-509-253
2061-531-268
2062-554-283
2063-577-299
2064-601-314
2065-625-330
2066-649-347
2067-674-363
2068-699-381
2069-724-398
2070-749-416
2071-776-434
2072-802-452
2073-830-471
2074-857-491
2075-885-510
2076-914-531
2077-944-552
2078-975-573
2079-1007-595
2080-1039-618
2081-1072-640
2082-1106-663
2083-1139-687
2084-1173-710
2085-1207-733
2086-1242-757
2087-1275-780
2088-1309-803
2089-1342-826
2090-1375-849
2091-1407-871
2092-1439-893
2093-1471-916
2094-1503-938
back