Proposed Provision: E3.11. Beginning in 2029, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017 (about $458,400 in 2029), with the threshold wage-indexed after 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 |
| 2021 | 253 | 253 |
| 2022 | 231 | 231 |
| 2023 | 214 | 214 |
| 2024 | 196 | 196 |
| 2025 | 178 | 178 |
| 2026 | 159 | 159 |
| 2027 | 141 | 141 |
| 2028 | 122 | 122 |
| 2029 | 104 | 104 |
| 2030 | 85 | 86 |
| 2031 | 66 | 68 |
| 2032 | 46 | 50 |
| 2033 | 27 | 32 |
| 2034 | 7 | 13 |
| 2035 | -13 | -6 |
| 2036 | -33 | -25 |
| 2037 | -54 | -45 |
| 2038 | -76 | -65 |
| 2039 | -97 | -85 |
| 2040 | -119 | -106 |
| 2041 | -142 | -127 |
| 2042 | -165 | -148 |
| 2043 | -188 | -170 |
| 2044 | -211 | -192 |
| 2045 | -235 | -214 |
| 2046 | -258 | -236 |
| 2047 | -282 | -259 |
| 2048 | -306 | -281 |
| 2049 | -330 | -304 |
| 2050 | -354 | -326 |
| 2051 | -378 | -349 |
| 2052 | -403 | -372 |
| 2053 | -427 | -395 |
| 2054 | -452 | -419 |
| 2055 | -477 | -442 |
| 2056 | -502 | -466 |
| 2057 | -527 | -489 |
| 2058 | -552 | -513 |
| 2059 | -578 | -537 |
| 2060 | -604 | -562 |
| 2061 | -630 | -586 |
| 2062 | -657 | -612 |
| 2063 | -684 | -637 |
| 2064 | -712 | -663 |
| 2065 | -740 | -690 |
| 2066 | -768 | -717 |
| 2067 | -796 | -744 |
| 2068 | -825 | -771 |
| 2069 | -855 | -799 |
| 2070 | -884 | -827 |
| 2071 | -914 | -855 |
| 2072 | -945 | -884 |
| 2073 | -976 | -913 |
| 2074 | -1007 | -943 |
| 2075 | -1039 | -973 |
| 2076 | -1071 | -1004 |
| 2077 | -1105 | -1036 |
| 2078 | -1139 | -1069 |
| 2079 | -1175 | -1102 |
| 2080 | -1211 | -1137 |
| 2081 | -1248 | -1172 |
| 2082 | -1286 | -1207 |
| 2083 | -1324 | -1244 |
| 2084 | -1363 | -1281 |
| 2085 | -1403 | -1318 |
| 2086 | -1443 | -1356 |
| 2087 | -1483 | -1394 |
| 2088 | -1524 | -1433 |
| 2089 | -1564 | -1471 |
| 2090 | -1604 | -1509 |
| 2091 | -1643 | -1545 |
| 2092 | -1681 | -1581 |
| 2093 | -1718 | -1616 |
| 2094 | -1754 | -1650 |
| 2095 | -1789 | -1683 |
| 2096 | -1825 | -1717 |
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