Proposed Provision: H6. Eliminate federal income taxation of OASDI benefits that is credited to the OASI and DI Trust Funds for 2054 and later. Phase out OASDI taxation of benefits by increasing relevant "income" thresholds from 2045 through 2053 as follows, for single/joint tax filers: (a) 2045 = $32,500/$65,000; (b) 2046 = $40,000/$80,000; (c) 2047 = $47,500/$95,000; (d) 2048 = $55,000/$110,000; (e) 2049 = $62,500/$125,000; (f) 2050 = $70,000/$140,000; (g) 2051 = $77,500/$155,000; (h) 2052 = $85,000/$170,000; and (i) 2053 = $92,500/$185,000. Taxation of benefits revenues for the Hospital Insurance (HI) Trust Fund would be maintained at the same level as if the current-law computation applied.

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

Year Current Law Provision
2024188188
2025171171
2026152152
2027134134
2028117117
2029101101
20308484
20316868
20325353
20333737
20342222
203577
2036-9-9
2037-26-26
2038-43-43
2039-60-60
2040-78-78
2041-96-96
2042-115-115
2043-135-135
2044-154-154
2045-174-174
2046-194-195
2047-215-216
2048-235-238
2049-256-260
2050-277-283
2051-299-306
2052-320-329
2053-342-354
2054-364-378
2055-386-406
2056-409-435
2057-431-463
2058-455-493
2059-478-522
2060-502-552
2061-527-583
2062-553-615
2063-579-647
2064-605-680
2065-632-713
2066-660-747
2067-688-781
2068-716-816
2069-745-851
2070-774-887
2071-803-923
2072-834-960
2073-864-998
2074-895-1035
2075-927-1074
2076-960-1114
2077-993-1154
2078-1027-1195
2079-1062-1238
2080-1098-1281
2081-1134-1325
2082-1172-1370
2083-1209-1416
2084-1248-1463
2085-1287-1510
2086-1327-1559
2087-1368-1608
2088-1409-1658
2089-1450-1708
2090-1491-1758
2091-1532-1807
2092-1573-1856
2093-1612-1905
2094-1651-1952
2095-1689-1999
2096-1727-2045
2097-1764-2090
2098-1801-2135
2099-1838-2180
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