Proposed Provision: E2.8. Apply a 2 percent payroll tax on earnings above the current-law taxable maximum for years 2023-2070, and a 3 percent rate for years 2071 and later. Do not 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 |
| 2020 | 261 | 261 |
| 2021 | 248 | 248 |
| 2022 | 233 | 233 |
| 2023 | 217 | 217 |
| 2024 | 200 | 203 |
| 2025 | 183 | 188 |
| 2026 | 165 | 173 |
| 2027 | 148 | 158 |
| 2028 | 130 | 142 |
| 2029 | 112 | 126 |
| 2030 | 94 | 110 |
| 2031 | 76 | 94 |
| 2032 | 58 | 78 |
| 2033 | 39 | 62 |
| 2034 | 20 | 46 |
| 2035 | 1 | 29 |
| 2036 | -19 | 12 |
| 2037 | -38 | -5 |
| 2038 | -59 | -23 |
| 2039 | -80 | -41 |
| 2040 | -101 | -60 |
| 2041 | -122 | -78 |
| 2042 | -144 | -97 |
| 2043 | -166 | -116 |
| 2044 | -188 | -136 |
| 2045 | -210 | -155 |
| 2046 | -232 | -174 |
| 2047 | -255 | -194 |
| 2048 | -277 | -213 |
| 2049 | -299 | -233 |
| 2050 | -322 | -252 |
| 2051 | -344 | -272 |
| 2052 | -367 | -291 |
| 2053 | -389 | -311 |
| 2054 | -412 | -331 |
| 2055 | -434 | -351 |
| 2056 | -457 | -371 |
| 2057 | -480 | -391 |
| 2058 | -504 | -411 |
| 2059 | -527 | -432 |
| 2060 | -551 | -453 |
| 2061 | -575 | -474 |
| 2062 | -599 | -496 |
| 2063 | -624 | -518 |
| 2064 | -650 | -541 |
| 2065 | -676 | -564 |
| 2066 | -702 | -587 |
| 2067 | -728 | -610 |
| 2068 | -755 | -634 |
| 2069 | -782 | -659 |
| 2070 | -809 | -683 |
| 2071 | -837 | -708 |
| 2072 | -866 | -733 |
| 2073 | -895 | -758 |
| 2074 | -925 | -783 |
| 2075 | -955 | -810 |
| 2076 | -986 | -836 |
| 2077 | -1018 | -864 |
| 2078 | -1051 | -892 |
| 2079 | -1084 | -921 |
| 2080 | -1119 | -951 |
| 2081 | -1154 | -981 |
| 2082 | -1190 | -1012 |
| 2083 | -1226 | -1043 |
| 2084 | -1263 | -1075 |
| 2085 | -1300 | -1107 |
| 2086 | -1337 | -1139 |
| 2087 | -1374 | -1171 |
| 2088 | -1411 | -1202 |
| 2089 | -1448 | -1234 |
| 2090 | -1484 | -1265 |
| 2091 | -1520 | -1295 |
| 2092 | -1554 | -1325 |
| 2093 | -1589 | -1354 |
| 2094 | -1623 | -1384 |
| 2095 | -1657 | -1413 |
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