Detailed Single Year Tables
Description of Proposed Provision:
H4: Increase the threshold for taxation of OASDI benefits to $50,000 for single filers and $100,000 for joint filers starting in 2023. Taxation of benefits revenues transferred to the Hospital Insurance (HI) Trust Fund would be the same as if the current-law computation applied.
Financial Estimates for the OASDI Trust Fund Program
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Expressed as a percentage of current-law taxable payroll |
Trust fund ratio as of January 1 |
Expressed as a percentage of current-law taxable payroll |
|||||||
|
Calendar year |
Cost rate |
Income rate |
Annual balance |
Cost rate |
Income rate |
Annual balance |
|||
| 2021 | 14.11 | 12.31 | -1.81 | 253 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.30 | 12.93 | -1.38 | 231 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.43 | 12.71 | -1.72 | 214 | 0.00 | -0.20 | -0.20 | ||
| 2024 | 14.64 | 12.74 | -1.90 | 195 | 0.00 | -0.20 | -0.20 | ||
| 2025 | 14.86 | 12.76 | -2.10 | 175 | 0.00 | -0.20 | -0.20 | ||
| 2026 | 15.11 | 12.83 | -2.28 | 155 | 0.00 | -0.25 | -0.25 | ||
| 2027 | 15.36 | 12.85 | -2.51 | 136 | 0.00 | -0.25 | -0.25 | ||
| 2028 | 15.63 | 12.89 | -2.73 | 116 | 0.00 | -0.25 | -0.25 | ||
| 2029 | 15.87 | 12.93 | -2.95 | 96 | 0.00 | -0.24 | -0.25 | ||
| 2030 | 16.11 | 12.95 | -3.16 | 75 | 0.00 | -0.24 | -0.24 | ||
| 2031 | 16.29 | 12.97 | -3.32 | 55 | 0.00 | -0.24 | -0.24 | ||
| 2032 | 16.44 | 12.99 | -3.45 | 35 | 0.00 | -0.23 | -0.23 | ||
| 2033 | 16.56 | 13.00 | -3.56 | 14 | 0.00 | -0.22 | -0.23 | ||
| 2034 | 16.66 | 13.02 | -3.64 | ---- | 0.00 | -0.22 | -0.22 | ||
| 2035 | 16.74 | 13.03 | -3.70 | ---- | 0.00 | -0.21 | -0.21 | ||
| 2036 | 16.80 | 13.05 | -3.76 | ---- | 0.00 | -0.20 | -0.21 | ||
| 2037 | 16.86 | 13.06 | -3.80 | ---- | 0.00 | -0.20 | -0.20 | ||
| 2038 | 16.91 | 13.07 | -3.84 | ---- | 0.00 | -0.19 | -0.19 | ||
| 2039 | 16.95 | 13.08 | -3.87 | ---- | 0.00 | -0.18 | -0.18 | ||
| 2040 | 16.98 | 13.09 | -3.89 | ---- | 0.00 | -0.18 | -0.18 | ||
| 2041 | 17.02 | 13.10 | -3.92 | ---- | 0.00 | -0.17 | -0.17 | ||
| 2042 | 17.04 | 13.11 | -3.93 | ---- | 0.00 | -0.16 | -0.16 | ||
| 2043 | 17.04 | 13.12 | -3.92 | ---- | 0.00 | -0.16 | -0.16 | ||
| 2044 | 17.05 | 13.13 | -3.92 | ---- | 0.00 | -0.15 | -0.15 | ||
| 2045 | 17.05 | 13.14 | -3.91 | ---- | 0.00 | -0.14 | -0.14 | ||
| 2046 | 17.06 | 13.14 | -3.91 | ---- | 0.00 | -0.14 | -0.14 | ||
| 2047 | 17.08 | 13.15 | -3.92 | ---- | 0.00 | -0.13 | -0.13 | ||
| 2048 | 17.10 | 13.16 | -3.94 | ---- | 0.00 | -0.12 | -0.13 | ||
| 2049 | 17.12 | 13.17 | -3.95 | ---- | 0.00 | -0.12 | -0.12 | ||
| 2050 | 17.14 | 13.18 | -3.96 | ---- | 0.00 | -0.11 | -0.11 | ||
| 2051 | 17.16 | 13.18 | -3.98 | ---- | 0.00 | -0.11 | -0.11 | ||
| 2052 | 17.19 | 13.19 | -4.00 | ---- | 0.00 | -0.10 | -0.10 | ||
| 2053 | 17.22 | 13.20 | -4.02 | ---- | 0.00 | -0.10 | -0.10 | ||
| 2054 | 17.25 | 13.21 | -4.04 | ---- | 0.00 | -0.09 | -0.09 | ||
| 2055 | 17.29 | 13.22 | -4.08 | ---- | 0.00 | -0.09 | -0.09 | ||
| 2056 | 17.34 | 13.23 | -4.11 | ---- | 0.00 | -0.08 | -0.08 | ||
| 2057 | 17.38 | 13.23 | -4.15 | ---- | 0.00 | -0.08 | -0.08 | ||
| 2058 | 17.44 | 13.24 | -4.19 | ---- | 0.00 | -0.08 | -0.08 | ||
| 2059 | 17.49 | 13.25 | -4.24 | ---- | 0.00 | -0.07 | -0.07 | ||
| 2060 | 17.55 | 13.26 | -4.29 | ---- | 0.00 | -0.07 | -0.07 | ||
| 2061 | 17.60 | 13.27 | -4.33 | ---- | 0.00 | -0.06 | -0.06 | ||
| 2062 | 17.65 | 13.28 | -4.38 | ---- | 0.00 | -0.06 | -0.06 | ||
| 2063 | 17.70 | 13.28 | -4.42 | ---- | 0.00 | -0.06 | -0.06 | ||
| 2064 | 17.75 | 13.29 | -4.46 | ---- | 0.00 | -0.05 | -0.06 | ||
| 2065 | 17.80 | 13.30 | -4.51 | ---- | 0.00 | -0.05 | -0.05 | ||
| 2066 | 17.85 | 13.30 | -4.55 | ---- | 0.00 | -0.05 | -0.05 | ||
| 2067 | 17.90 | 13.31 | -4.59 | ---- | 0.00 | -0.05 | -0.05 | ||
| 2068 | 17.96 | 13.32 | -4.64 | ---- | 0.00 | -0.04 | -0.04 | ||
| 2069 | 18.01 | 13.32 | -4.69 | ---- | 0.00 | -0.04 | -0.04 | ||
| 2070 | 18.07 | 13.33 | -4.74 | ---- | 0.00 | -0.04 | -0.04 | ||
| 2071 | 18.12 | 13.34 | -4.79 | ---- | 0.00 | -0.04 | -0.04 | ||
| 2072 | 18.17 | 13.34 | -4.83 | ---- | 0.00 | -0.04 | -0.04 | ||
| 2073 | 18.23 | 13.35 | -4.88 | ---- | 0.00 | -0.03 | -0.03 | ||
| 2074 | 18.27 | 13.35 | -4.92 | ---- | 0.00 | -0.03 | -0.03 | ||
| 2075 | 18.32 | 13.36 | -4.96 | ---- | 0.00 | -0.03 | -0.03 | ||
| 2076 | 18.35 | 13.36 | -4.99 | ---- | 0.00 | -0.03 | -0.03 | ||
| 2077 | 18.37 | 13.37 | -5.00 | ---- | 0.00 | -0.03 | -0.03 | ||
| 2078 | 18.38 | 13.37 | -5.01 | ---- | 0.00 | -0.03 | -0.03 | ||
| 2079 | 18.37 | 13.37 | -5.00 | ---- | 0.00 | -0.02 | -0.02 | ||
| 2080 | 18.35 | 13.37 | -4.98 | ---- | 0.00 | -0.02 | -0.02 | ||
| 2081 | 18.33 | 13.37 | -4.95 | ---- | 0.00 | -0.02 | -0.02 | ||
| 2082 | 18.29 | 13.37 | -4.92 | ---- | 0.00 | -0.02 | -0.02 | ||
| 2083 | 18.25 | 13.37 | -4.88 | ---- | 0.00 | -0.02 | -0.02 | ||
| 2084 | 18.20 | 13.37 | -4.83 | ---- | 0.00 | -0.02 | -0.02 | ||
| 2085 | 18.14 | 13.37 | -4.77 | ---- | 0.00 | -0.02 | -0.02 | ||
| 2086 | 18.08 | 13.36 | -4.71 | ---- | 0.00 | -0.02 | -0.02 | ||
| 2087 | 18.01 | 13.36 | -4.65 | ---- | 0.00 | -0.02 | -0.02 | ||
| 2088 | 17.94 | 13.36 | -4.58 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2089 | 17.87 | 13.35 | -4.52 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2090 | 17.81 | 13.35 | -4.46 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2091 | 17.77 | 13.35 | -4.42 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2092 | 17.73 | 13.35 | -4.38 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2093 | 17.71 | 13.35 | -4.37 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2094 | 17.70 | 13.35 | -4.36 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2095 | 17.70 | 13.35 | -4.35 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2096 | 17.71 | 13.35 | -4.36 | ---- | 0.00 | -0.01 | -0.01 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2021-2095 | 17.31% | 13.67% | -3.64% | 2033 | 0.00% | -0.11% | -0.11% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2021 Trustees Report.