Detailed Single Year Tables
Description of Proposed Provision:
E1.9: Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2028-2051, until the rate reaches 14.8 percent in 2051 and later.
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 |
|||
| 2024 | 14.71 | 13.03 | -1.68 | 188 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 15.00 | 12.89 | -2.11 | 171 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 15.20 | 13.07 | -2.13 | 152 | 0.00 | 0.00 | 0.00 | ||
| 2027 | 15.36 | 13.11 | -2.25 | 134 | 0.00 | 0.00 | 0.00 | ||
| 2028 | 15.42 | 13.23 | -2.19 | 117 | 0.00 | 0.09 | 0.09 | ||
| 2029 | 15.47 | 13.35 | -2.12 | 101 | -0.00 | 0.19 | 0.19 | ||
| 2030 | 15.53 | 13.46 | -2.07 | 86 | -0.00 | 0.28 | 0.28 | ||
| 2031 | 15.58 | 13.58 | -1.99 | 72 | -0.00 | 0.38 | 0.38 | ||
| 2032 | 15.60 | 13.69 | -1.91 | 59 | -0.00 | 0.47 | 0.47 | ||
| 2033 | 15.66 | 13.83 | -1.83 | 46 | -0.00 | 0.57 | 0.57 | ||
| 2034 | 15.77 | 13.94 | -1.83 | 34 | -0.00 | 0.67 | 0.67 | ||
| 2035 | 15.88 | 14.05 | -1.84 | 23 | -0.00 | 0.76 | 0.76 | ||
| 2036 | 15.98 | 14.15 | -1.83 | 12 | -0.00 | 0.86 | 0.86 | ||
| 2037 | 16.09 | 14.26 | -1.83 | 1 | -0.00 | 0.95 | 0.96 | ||
| 2038 | 16.17 | 14.36 | -1.81 | — | -0.01 | 1.05 | 1.05 | ||
| 2039 | 16.24 | 14.46 | -1.78 | — | -0.01 | 1.14 | 1.15 | ||
| 2040 | 16.31 | 14.56 | -1.75 | — | -0.01 | 1.24 | 1.25 | ||
| 2041 | 16.37 | 14.66 | -1.71 | — | -0.01 | 1.33 | 1.34 | ||
| 2042 | 16.42 | 14.76 | -1.66 | — | -0.01 | 1.43 | 1.44 | ||
| 2043 | 16.46 | 14.86 | -1.60 | — | -0.02 | 1.52 | 1.54 | ||
| 2044 | 16.50 | 14.96 | -1.54 | — | -0.02 | 1.62 | 1.64 | ||
| 2045 | 16.53 | 15.05 | -1.47 | — | -0.02 | 1.71 | 1.73 | ||
| 2046 | 16.56 | 15.15 | -1.41 | — | -0.03 | 1.80 | 1.83 | ||
| 2047 | 16.59 | 15.25 | -1.34 | — | -0.03 | 1.90 | 1.93 | ||
| 2048 | 16.63 | 15.35 | -1.28 | — | -0.03 | 1.99 | 2.03 | ||
| 2049 | 16.67 | 15.45 | -1.22 | — | -0.04 | 2.09 | 2.13 | ||
| 2050 | 16.72 | 15.55 | -1.17 | — | -0.04 | 2.18 | 2.22 | ||
| 2051 | 16.76 | 15.64 | -1.12 | — | -0.05 | 2.28 | 2.32 | ||
| 2052 | 16.82 | 15.65 | -1.17 | — | -0.05 | 2.28 | 2.33 | ||
| 2053 | 16.88 | 15.66 | -1.22 | — | -0.06 | 2.28 | 2.34 | ||
| 2054 | 16.94 | 15.66 | -1.28 | — | -0.06 | 2.28 | 2.34 | ||
| 2055 | 17.01 | 15.67 | -1.34 | — | -0.07 | 2.28 | 2.35 | ||
| 2056 | 17.09 | 15.68 | -1.41 | — | -0.07 | 2.28 | 2.35 | ||
| 2057 | 17.17 | 15.68 | -1.48 | — | -0.08 | 2.28 | 2.36 | ||
| 2058 | 17.25 | 15.69 | -1.56 | — | -0.08 | 2.28 | 2.36 | ||
| 2059 | 17.33 | 15.70 | -1.63 | — | -0.09 | 2.28 | 2.36 | ||
| 2060 | 17.41 | 15.70 | -1.71 | — | -0.09 | 2.28 | 2.37 | ||
| 2061 | 17.49 | 15.71 | -1.78 | — | -0.10 | 2.28 | 2.37 | ||
| 2062 | 17.55 | 15.71 | -1.84 | — | -0.10 | 2.28 | 2.38 | ||
| 2063 | 17.62 | 15.72 | -1.90 | — | -0.11 | 2.28 | 2.38 | ||
| 2064 | 17.68 | 15.73 | -1.95 | — | -0.11 | 2.28 | 2.39 | ||
| 2065 | 17.74 | 15.73 | -2.01 | — | -0.11 | 2.28 | 2.39 | ||
| 2066 | 17.80 | 15.74 | -2.07 | — | -0.12 | 2.28 | 2.39 | ||
| 2067 | 17.86 | 15.74 | -2.12 | — | -0.12 | 2.28 | 2.40 | ||
| 2068 | 17.92 | 15.75 | -2.18 | — | -0.12 | 2.28 | 2.40 | ||
| 2069 | 17.99 | 15.75 | -2.24 | — | -0.13 | 2.28 | 2.40 | ||
| 2070 | 18.06 | 15.76 | -2.30 | — | -0.13 | 2.28 | 2.40 | ||
| 2071 | 18.12 | 15.76 | -2.36 | — | -0.13 | 2.28 | 2.41 | ||
| 2072 | 18.18 | 15.77 | -2.41 | — | -0.13 | 2.28 | 2.41 | ||
| 2073 | 18.24 | 15.77 | -2.47 | — | -0.14 | 2.28 | 2.41 | ||
| 2074 | 18.29 | 15.78 | -2.52 | — | -0.14 | 2.28 | 2.41 | ||
| 2075 | 18.34 | 15.78 | -2.57 | — | -0.14 | 2.28 | 2.42 | ||
| 2076 | 18.39 | 15.78 | -2.60 | — | -0.14 | 2.28 | 2.42 | ||
| 2077 | 18.42 | 15.79 | -2.63 | — | -0.14 | 2.28 | 2.42 | ||
| 2078 | 18.44 | 15.79 | -2.65 | — | -0.14 | 2.28 | 2.42 | ||
| 2079 | 18.45 | 15.79 | -2.66 | — | -0.14 | 2.28 | 2.42 | ||
| 2080 | 18.45 | 15.79 | -2.66 | — | -0.14 | 2.28 | 2.42 | ||
| 2081 | 18.44 | 15.79 | -2.65 | — | -0.15 | 2.28 | 2.42 | ||
| 2082 | 18.43 | 15.79 | -2.64 | — | -0.15 | 2.28 | 2.42 | ||
| 2083 | 18.40 | 15.79 | -2.61 | — | -0.15 | 2.28 | 2.42 | ||
| 2084 | 18.37 | 15.79 | -2.58 | — | -0.15 | 2.28 | 2.42 | ||
| 2085 | 18.32 | 15.79 | -2.54 | — | -0.15 | 2.28 | 2.42 | ||
| 2086 | 18.27 | 15.78 | -2.49 | — | -0.15 | 2.28 | 2.42 | ||
| 2087 | 18.22 | 15.78 | -2.44 | — | -0.15 | 2.28 | 2.42 | ||
| 2088 | 18.16 | 15.78 | -2.38 | — | -0.14 | 2.28 | 2.42 | ||
| 2089 | 18.10 | 15.77 | -2.33 | — | -0.14 | 2.28 | 2.42 | ||
| 2090 | 18.05 | 15.77 | -2.28 | — | -0.14 | 2.28 | 2.42 | ||
| 2091 | 18.00 | 15.77 | -2.23 | — | -0.14 | 2.28 | 2.42 | ||
| 2092 | 17.96 | 15.76 | -2.20 | — | -0.14 | 2.28 | 2.42 | ||
| 2093 | 17.94 | 15.76 | -2.18 | — | -0.14 | 2.28 | 2.42 | ||
| 2094 | 17.92 | 15.76 | -2.16 | — | -0.14 | 2.28 | 2.42 | ||
| 2095 | 17.92 | 15.76 | -2.16 | — | -0.14 | 2.28 | 2.42 | ||
| 2096 | 17.93 | 15.76 | -2.17 | — | -0.14 | 2.28 | 2.42 | ||
| 2097 | 17.95 | 15.76 | -2.19 | — | -0.14 | 2.28 | 2.42 | ||
| 2098 | 17.98 | 15.77 | -2.21 | — | -0.14 | 2.28 | 2.42 | ||
| 2099 | 18.02 | 15.77 | -2.25 | — | -0.14 | 2.28 | 2.42 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2024-2098 | 17.22% | 15.52% | -1.70% | 2037 | -0.07% | 1.72% | 1.79% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2024 Trustees Report.