Proposed Provision: E2.8. Apply a 2 percent payroll tax on earnings above the current-law taxable maximum for years 2024-2071, and a 3 percent rate for years 2072 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
2021253253
2022231231
2023214214
2024196196
2025178180
2026159164
2027141149
2028122132
2029104116
20308599
20316682
20324665
20332748
2034730
2035-1313
2036-33-5
2037-54-24
2038-76-42
2039-97-61
2040-119-81
2041-142-100
2042-165-120
2043-188-140
2044-211-161
2045-235-181
2046-258-202
2047-282-223
2048-306-244
2049-330-265
2050-354-286
2051-378-308
2052-403-329
2053-427-351
2054-452-373
2055-477-394
2056-502-416
2057-527-439
2058-552-461
2059-578-484
2060-604-507
2061-630-530
2062-657-554
2063-684-578
2064-712-602
2065-740-627
2066-768-652
2067-796-678
2068-825-704
2069-855-730
2070-884-756
2071-914-783
2072-945-811
2073-976-837
2074-1007-864
2075-1039-892
2076-1071-920
2077-1105-949
2078-1139-979
2079-1175-1010
2080-1211-1041
2081-1248-1073
2082-1286-1106
2083-1324-1139
2084-1363-1173
2085-1403-1207
2086-1443-1241
2087-1483-1276
2088-1524-1311
2089-1564-1346
2090-1604-1380
2091-1643-1413
2092-1681-1446
2093-1718-1477
2094-1754-1508
2095-1789-1538
2096-1825-1568
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