Proposed Provision: E3.7. Increase the taxable maximum by an additional 2 percent per year beginning in 2022 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
2020261261
2021248248
2022233233
2023217217
2024200201
2025183184
2026165168
2027148151
2028130135
2029112119
203094102
20317686
20325870
20333954
20342037
2035121
2036-195
2037-38-12
2038-59-29
2039-80-46
2040-101-64
2041-122-81
2042-144-99
2043-166-116
2044-188-134
2045-210-151
2046-232-169
2047-255-186
2048-277-203
2049-299-220
2050-322-237
2051-344-254
2052-367-271
2053-389-288
2054-412-304
2055-434-321
2056-457-338
2057-480-355
2058-504-372
2059-527-390
2060-551-407
2061-575-425
2062-599-443
2063-624-462
2064-650-481
2065-676-501
2066-702-521
2067-728-541
2068-755-562
2069-782-583
2070-809-605
2071-837-627
2072-866-649
2073-895-672
2074-925-696
2075-955-720
2076-986-744
2077-1018-770
2078-1051-796
2079-1084-823
2080-1119-850
2081-1154-879
2082-1190-907
2083-1226-936
2084-1263-965
2085-1300-995
2086-1337-1025
2087-1374-1054
2088-1411-1084
2089-1448-1113
2090-1484-1142
2091-1520-1170
2092-1554-1198
2093-1589-1226
2094-1623-1253
2095-1657-1280
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