Proposed Provision: E1.2. Increase the payroll tax rate (currently 12.4 percent) to 16.4 percent in 2034-2063, and to 20.4 percent in years 2064 and later.
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 | 85 |
| 2031 | 66 | 66 |
| 2032 | 46 | 46 |
| 2033 | 27 | 27 |
| 2034 | 7 | 7 |
| 2035 | -13 | 8 |
| 2036 | -33 | 10 |
| 2037 | -54 | 11 |
| 2038 | -76 | 12 |
| 2039 | -97 | 13 |
| 2040 | -119 | 14 |
| 2041 | -142 | 14 |
| 2042 | -165 | 15 |
| 2043 | -188 | 15 |
| 2044 | -211 | 16 |
| 2045 | -235 | 16 |
| 2046 | -258 | 17 |
| 2047 | -282 | 18 |
| 2048 | -306 | 18 |
| 2049 | -330 | 19 |
| 2050 | -354 | 19 |
| 2051 | -378 | 20 |
| 2052 | -403 | 20 |
| 2053 | -427 | 21 |
| 2054 | -452 | 21 |
| 2055 | -477 | 21 |
| 2056 | -502 | 21 |
| 2057 | -527 | 21 |
| 2058 | -552 | 20 |
| 2059 | -578 | 20 |
| 2060 | -604 | 19 |
| 2061 | -630 | 17 |
| 2062 | -657 | 16 |
| 2063 | -684 | 14 |
| 2064 | -712 | 13 |
| 2065 | -740 | 30 |
| 2066 | -768 | 48 |
| 2067 | -796 | 66 |
| 2068 | -825 | 84 |
| 2069 | -855 | 101 |
| 2070 | -884 | 119 |
| 2071 | -914 | 136 |
| 2072 | -945 | 153 |
| 2073 | -976 | 170 |
| 2074 | -1007 | 187 |
| 2075 | -1039 | 204 |
| 2076 | -1071 | 221 |
| 2077 | -1105 | 238 |
| 2078 | -1139 | 255 |
| 2079 | -1175 | 273 |
| 2080 | -1211 | 291 |
| 2081 | -1248 | 309 |
| 2082 | -1286 | 328 |
| 2083 | -1324 | 348 |
| 2084 | -1363 | 368 |
| 2085 | -1403 | 389 |
| 2086 | -1443 | 410 |
| 2087 | -1483 | 432 |
| 2088 | -1524 | 455 |
| 2089 | -1564 | 479 |
| 2090 | -1604 | 503 |
| 2091 | -1643 | 527 |
| 2092 | -1681 | 552 |
| 2093 | -1718 | 576 |
| 2094 | -1754 | 601 |
| 2095 | -1789 | 626 |
| 2096 | -1825 | 650 |
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