Proposed Provision: E3.7. Increase the taxable maximum by an additional 2 percent per year beginning in 2021 until taxable earnings equal 90 percent of covered earnings. Provide benefit credit for earnings up to the revised taxable maximum. Create a new bend point equal to the current-law taxable maximum with a 5 percent formula factor applying above the new bend point.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2019 | 273 | 273 |
| 2020 | 260 | 260 |
| 2021 | 245 | 245 |
| 2022 | 229 | 230 |
| 2023 | 213 | 214 |
| 2024 | 197 | 198 |
| 2025 | 180 | 183 |
| 2026 | 163 | 167 |
| 2027 | 147 | 152 |
| 2028 | 130 | 137 |
| 2029 | 114 | 122 |
| 2030 | 97 | 108 |
| 2031 | 80 | 93 |
| 2032 | 63 | 78 |
| 2033 | 46 | 63 |
| 2034 | 28 | 49 |
| 2035 | 10 | 33 |
| 2036 | -9 | 18 |
| 2037 | -28 | 2 |
| 2038 | -47 | -14 |
| 2039 | -67 | -30 |
| 2040 | -87 | -46 |
| 2041 | -108 | -62 |
| 2042 | -129 | -78 |
| 2043 | -150 | -95 |
| 2044 | -171 | -111 |
| 2045 | -192 | -127 |
| 2046 | -213 | -143 |
| 2047 | -234 | -158 |
| 2048 | -255 | -174 |
| 2049 | -276 | -189 |
| 2050 | -297 | -204 |
| 2051 | -318 | -219 |
| 2052 | -338 | -234 |
| 2053 | -359 | -249 |
| 2054 | -380 | -263 |
| 2055 | -401 | -278 |
| 2056 | -422 | -293 |
| 2057 | -444 | -308 |
| 2058 | -465 | -323 |
| 2059 | -487 | -338 |
| 2060 | -509 | -353 |
| 2061 | -531 | -369 |
| 2062 | -554 | -386 |
| 2063 | -577 | -403 |
| 2064 | -601 | -420 |
| 2065 | -625 | -437 |
| 2066 | -649 | -455 |
| 2067 | -674 | -473 |
| 2068 | -699 | -492 |
| 2069 | -724 | -511 |
| 2070 | -749 | -530 |
| 2071 | -776 | -550 |
| 2072 | -802 | -571 |
| 2073 | -830 | -591 |
| 2074 | -857 | -613 |
| 2075 | -885 | -634 |
| 2076 | -914 | -657 |
| 2077 | -944 | -680 |
| 2078 | -975 | -704 |
| 2079 | -1007 | -728 |
| 2080 | -1039 | -753 |
| 2081 | -1072 | -779 |
| 2082 | -1106 | -804 |
| 2083 | -1139 | -830 |
| 2084 | -1173 | -857 |
| 2085 | -1207 | -883 |
| 2086 | -1242 | -909 |
| 2087 | -1275 | -935 |
| 2088 | -1309 | -961 |
| 2089 | -1342 | -987 |
| 2090 | -1375 | -1012 |
| 2091 | -1407 | -1037 |
| 2092 | -1439 | -1062 |
| 2093 | -1471 | -1087 |
| 2094 | -1503 | -1112 |
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