Proposed Provision: E2.2. Eliminate the taxable maximum in years 2024 and later, and apply full 12.4 percent payroll tax rate to all earnings. 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 |
| 2023 | 204 | 204 |
| 2024 | 187 | 187 |
| 2025 | 168 | 182 |
| 2026 | 149 | 178 |
| 2027 | 131 | 175 |
| 2028 | 114 | 171 |
| 2029 | 96 | 167 |
| 2030 | 78 | 163 |
| 2031 | 60 | 159 |
| 2032 | 43 | 154 |
| 2033 | 25 | 149 |
| 2034 | 7 | 145 |
| 2035 | -12 | 141 |
| 2036 | -31 | 137 |
| 2037 | -51 | 132 |
| 2038 | -70 | 127 |
| 2039 | -91 | 122 |
| 2040 | -112 | 116 |
| 2041 | -133 | 111 |
| 2042 | -154 | 105 |
| 2043 | -176 | 99 |
| 2044 | -198 | 92 |
| 2045 | -220 | 86 |
| 2046 | -243 | 79 |
| 2047 | -265 | 72 |
| 2048 | -288 | 65 |
| 2049 | -311 | 57 |
| 2050 | -333 | 50 |
| 2051 | -357 | 41 |
| 2052 | -380 | 33 |
| 2053 | -403 | 24 |
| 2054 | -427 | 15 |
| 2055 | -450 | 5 |
| 2056 | -474 | -5 |
| 2057 | -498 | -15 |
| 2058 | -522 | -26 |
| 2059 | -547 | -38 |
| 2060 | -572 | -50 |
| 2061 | -597 | -62 |
| 2062 | -623 | -75 |
| 2063 | -650 | -89 |
| 2064 | -677 | -103 |
| 2065 | -705 | -117 |
| 2066 | -733 | -132 |
| 2067 | -762 | -147 |
| 2068 | -791 | -162 |
| 2069 | -820 | -178 |
| 2070 | -850 | -195 |
| 2071 | -880 | -211 |
| 2072 | -911 | -228 |
| 2073 | -942 | -246 |
| 2074 | -974 | -264 |
| 2075 | -1006 | -282 |
| 2076 | -1039 | -301 |
| 2077 | -1074 | -320 |
| 2078 | -1108 | -339 |
| 2079 | -1144 | -359 |
| 2080 | -1181 | -379 |
| 2081 | -1218 | -400 |
| 2082 | -1256 | -421 |
| 2083 | -1294 | -442 |
| 2084 | -1333 | -463 |
| 2085 | -1373 | -484 |
| 2086 | -1413 | -505 |
| 2087 | -1453 | -526 |
| 2088 | -1494 | -547 |
| 2089 | -1534 | -568 |
| 2090 | -1574 | -589 |
| 2091 | -1613 | -609 |
| 2092 | -1651 | -629 |
| 2093 | -1689 | -649 |
| 2094 | -1726 | -668 |
| 2095 | -1762 | -687 |
| 2096 | -1798 | -706 |
| 2097 | -1833 | -725 |
| 2098 | -1868 | -743 |
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