Proposed Provision: E3.14. Eliminate the taxable maximum for the employer payroll tax (6.2 percent) beginning in 2022. For the employee payroll tax (6.2 percent) and for benefit credit purposes, beginning in 2022, increase the taxable maximum by an additional 2 percent per year until taxable earnings equal 90 percent of covered earnings.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Current Law Provision
2021253253
2022231231
2023214222
2024196212
2025178202
2026159191
2027141179
2028122168
2029104156
203085144
203166132
203246120
203327108
2034796
2035-1384
2036-3373
2037-5461
2038-7649
2039-9737
2040-11925
2041-14212
2042-1650
2043-188-13
2044-211-25
2045-235-38
2046-258-51
2047-282-63
2048-306-76
2049-330-89
2050-354-102
2051-378-115
2052-403-128
2053-427-142
2054-452-155
2055-477-169
2056-502-183
2057-527-196
2058-552-211
2059-578-225
2060-604-240
2061-630-255
2062-657-270
2063-684-286
2064-712-302
2065-740-318
2066-768-335
2067-796-352
2068-825-370
2069-855-388
2070-884-406
2071-914-424
2072-945-443
2073-976-463
2074-1007-482
2075-1039-502
2076-1071-523
2077-1105-544
2078-1139-566
2079-1175-589
2080-1211-611
2081-1248-635
2082-1286-658
2083-1324-682
2084-1363-706
2085-1403-731
2086-1443-756
2087-1483-780
2088-1524-805
2089-1564-830
2090-1604-854
2091-1643-878
2092-1681-901
2093-1718-923
2094-1754-945
2095-1789-967
2096-1825-989
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