Proposed Provision: Beginning in 2022, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017, with the threshold wage-indexed after 2022. Provide proportional benefit credit for additional earnings taxed, based on the payroll tax rate applied to the additional earnings divided by the full 12.4 percent payroll tax rate.
OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)
| |
Income Rates |
Cost Rates |
| Year |
Present Law |
Provision |
Present Law |
Provision |
| 2014 | 12.7 | 12.7 | 14.0 | 14.0 |
| 2015 | 12.9 | 12.9 | 14.0 | 14.0 |
| 2016 | 12.9 | 12.9 | 14.0 | 14.0 |
| 2017 | 12.9 | 12.9 | 14.0 | 14.0 |
| 2018 | 12.9 | 12.9 | 14.0 | 14.0 |
| 2019 | 12.9 | 12.9 | 14.1 | 14.1 |
| 2020 | 13.0 | 13.0 | 14.3 | 14.3 |
| 2021 | 13.0 | 13.0 | 14.5 | 14.5 |
| 2022 | 13.0 | 13.2 | 14.7 | 14.7 |
| 2023 | 13.0 | 13.2 | 15.0 | 15.0 |
| 2024 | 13.1 | 13.3 | 15.3 | 15.3 |
| 2025 | 13.1 | 13.3 | 15.5 | 15.5 |
| 2026 | 13.1 | 13.3 | 15.8 | 15.8 |
| 2027 | 13.1 | 13.3 | 16.0 | 16.0 |
| 2028 | 13.1 | 13.3 | 16.2 | 16.2 |
| 2029 | 13.1 | 13.3 | 16.4 | 16.4 |
| 2030 | 13.1 | 13.4 | 16.6 | 16.6 |
| 2031 | 13.2 | 13.4 | 16.7 | 16.8 |
| 2032 | 13.2 | 13.4 | 16.9 | 16.9 |
| 2033 | 13.2 | 13.4 | 17.0 | 17.0 |
| 2034 | 13.2 | 13.4 | 17.0 | 17.0 |
| 2035 | 13.2 | 13.4 | 17.1 | 17.1 |
| 2036 | 13.2 | 13.4 | 17.1 | 17.1 |
| 2037 | 13.2 | 13.4 | 17.1 | 17.2 |
| 2038 | 13.2 | 13.4 | 17.1 | 17.2 |
| 2039 | 13.2 | 13.4 | 17.1 | 17.1 |
| 2040 | 13.2 | 13.4 | 17.1 | 17.1 |
| 2041 | 13.2 | 13.4 | 17.0 | 17.1 |
| 2042 | 13.2 | 13.4 | 17.0 | 17.0 |
| 2043 | 13.2 | 13.4 | 17.0 | 17.0 |
| 2044 | 13.2 | 13.4 | 17.0 | 17.0 |
| 2045 | 13.2 | 13.4 | 16.9 | 17.0 |
| 2046 | 13.2 | 13.4 | 16.9 | 17.0 |
| 2047 | 13.2 | 13.4 | 16.9 | 17.0 |
| 2048 | 13.2 | 13.4 | 16.9 | 16.9 |
| 2049 | 13.2 | 13.4 | 16.9 | 16.9 |
| 2050 | 13.2 | 13.4 | 16.9 | 16.9 |
| 2051 | 13.2 | 13.4 | 16.9 | 16.9 |
| 2052 | 13.2 | 13.4 | 16.9 | 17.0 |
| 2053 | 13.2 | 13.4 | 16.9 | 17.0 |
| 2054 | 13.2 | 13.4 | 17.0 | 17.0 |
| 2055 | 13.2 | 13.4 | 17.0 | 17.1 |
| 2056 | 13.2 | 13.4 | 17.1 | 17.1 |
| 2057 | 13.2 | 13.4 | 17.1 | 17.2 |
| 2058 | 13.2 | 13.4 | 17.2 | 17.2 |
| 2059 | 13.2 | 13.5 | 17.2 | 17.3 |
| 2060 | 13.2 | 13.5 | 17.3 | 17.3 |
| 2061 | 13.2 | 13.5 | 17.3 | 17.4 |
| 2062 | 13.2 | 13.5 | 17.4 | 17.4 |
| 2063 | 13.2 | 13.5 | 17.4 | 17.5 |
| 2064 | 13.2 | 13.5 | 17.4 | 17.5 |
| 2065 | 13.2 | 13.5 | 17.5 | 17.6 |
| 2066 | 13.2 | 13.5 | 17.5 | 17.6 |
| 2067 | 13.3 | 13.5 | 17.6 | 17.7 |
| 2068 | 13.3 | 13.5 | 17.6 | 17.7 |
| 2069 | 13.3 | 13.5 | 17.7 | 17.8 |
| 2070 | 13.3 | 13.5 | 17.7 | 17.8 |
| 2071 | 13.3 | 13.5 | 17.8 | 17.9 |
| 2072 | 13.3 | 13.5 | 17.8 | 17.9 |
| 2073 | 13.3 | 13.5 | 17.8 | 17.9 |
| 2074 | 13.3 | 13.5 | 17.9 | 18.0 |
| 2075 | 13.3 | 13.5 | 17.9 | 18.0 |
| 2076 | 13.3 | 13.5 | 17.9 | 18.0 |
| 2077 | 13.3 | 13.5 | 17.9 | 18.0 |
| 2078 | 13.3 | 13.5 | 17.9 | 18.0 |
| 2079 | 13.3 | 13.5 | 17.9 | 18.0 |
| 2080 | 13.3 | 13.5 | 17.9 | 18.0 |
| 2081 | 13.3 | 13.5 | 17.9 | 18.0 |
| 2082 | 13.3 | 13.5 | 17.9 | 18.0 |
| 2083 | 13.3 | 13.5 | 18.0 | 18.1 |
| 2084 | 13.3 | 13.5 | 18.0 | 18.1 |
| 2085 | 13.3 | 13.5 | 18.0 | 18.2 |
| 2086 | 13.3 | 13.5 | 18.1 | 18.2 |
| 2087 | 13.3 | 13.5 | 18.1 | 18.3 |
| 2088 | 13.3 | 13.5 | 18.2 | 18.3 |
| 2089 | 13.3 | 13.5 | 18.2 | 18.4 |
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