Proposed Provision: Starting in 2015, exempt individuals with more than 180 quarters of coverage from the OASDI payroll tax. Earnings exempted from OASDI payroll tax would not be used in computing benefits.
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 | 12.7 | 14.0 | 14.0 |
2016 | 12.9 | 12.6 | 14.0 | 14.0 |
2017 | 12.9 | 12.6 | 14.0 | 14.0 |
2018 | 12.9 | 12.7 | 14.0 | 14.0 |
2019 | 12.9 | 12.7 | 14.1 | 14.1 |
2020 | 13.0 | 12.7 | 14.3 | 14.3 |
2021 | 13.0 | 12.7 | 14.5 | 14.5 |
2022 | 13.0 | 12.7 | 14.7 | 14.7 |
2023 | 13.0 | 12.7 | 15.0 | 15.0 |
2024 | 13.1 | 12.8 | 15.3 | 15.2 |
2025 | 13.1 | 12.8 | 15.5 | 15.5 |
2026 | 13.1 | 12.8 | 15.8 | 15.8 |
2027 | 13.1 | 12.8 | 16.0 | 16.0 |
2028 | 13.1 | 12.8 | 16.2 | 16.2 |
2029 | 13.1 | 12.8 | 16.4 | 16.4 |
2030 | 13.1 | 12.8 | 16.6 | 16.6 |
2031 | 13.2 | 12.8 | 16.7 | 16.7 |
2032 | 13.2 | 12.9 | 16.9 | 16.8 |
2033 | 13.2 | 12.9 | 17.0 | 16.9 |
2034 | 13.2 | 12.9 | 17.0 | 17.0 |
2035 | 13.2 | 12.9 | 17.1 | 17.0 |
2036 | 13.2 | 12.9 | 17.1 | 17.1 |
2037 | 13.2 | 12.9 | 17.1 | 17.1 |
2038 | 13.2 | 12.9 | 17.1 | 17.1 |
2039 | 13.2 | 12.9 | 17.1 | 17.1 |
2040 | 13.2 | 12.9 | 17.1 | 17.0 |
2041 | 13.2 | 12.9 | 17.0 | 17.0 |
2042 | 13.2 | 12.9 | 17.0 | 17.0 |
2043 | 13.2 | 12.8 | 17.0 | 16.9 |
2044 | 13.2 | 12.8 | 17.0 | 16.9 |
2045 | 13.2 | 12.8 | 16.9 | 16.9 |
2046 | 13.2 | 12.8 | 16.9 | 16.9 |
2047 | 13.2 | 12.8 | 16.9 | 16.9 |
2048 | 13.2 | 12.8 | 16.9 | 16.9 |
2049 | 13.2 | 12.8 | 16.9 | 16.8 |
2050 | 13.2 | 12.8 | 16.9 | 16.8 |
2051 | 13.2 | 12.8 | 16.9 | 16.8 |
2052 | 13.2 | 12.8 | 16.9 | 16.9 |
2053 | 13.2 | 12.8 | 16.9 | 16.9 |
2054 | 13.2 | 12.8 | 17.0 | 16.9 |
2055 | 13.2 | 12.8 | 17.0 | 17.0 |
2056 | 13.2 | 12.8 | 17.1 | 17.0 |
2057 | 13.2 | 12.8 | 17.1 | 17.1 |
2058 | 13.2 | 12.8 | 17.2 | 17.1 |
2059 | 13.2 | 12.8 | 17.2 | 17.2 |
2060 | 13.2 | 12.8 | 17.3 | 17.2 |
2061 | 13.2 | 12.8 | 17.3 | 17.3 |
2062 | 13.2 | 12.8 | 17.4 | 17.3 |
2063 | 13.2 | 12.8 | 17.4 | 17.4 |
2064 | 13.2 | 12.8 | 17.4 | 17.4 |
2065 | 13.2 | 12.8 | 17.5 | 17.5 |
2066 | 13.2 | 12.8 | 17.5 | 17.5 |
2067 | 13.3 | 12.8 | 17.6 | 17.6 |
2068 | 13.3 | 12.8 | 17.6 | 17.6 |
2069 | 13.3 | 12.8 | 17.7 | 17.6 |
2070 | 13.3 | 12.8 | 17.7 | 17.7 |
2071 | 13.3 | 12.8 | 17.8 | 17.7 |
2072 | 13.3 | 12.8 | 17.8 | 17.8 |
2073 | 13.3 | 12.8 | 17.8 | 17.8 |
2074 | 13.3 | 12.8 | 17.9 | 17.8 |
2075 | 13.3 | 12.8 | 17.9 | 17.8 |
2076 | 13.3 | 12.8 | 17.9 | 17.8 |
2077 | 13.3 | 12.8 | 17.9 | 17.8 |
2078 | 13.3 | 12.8 | 17.9 | 17.8 |
2079 | 13.3 | 12.8 | 17.9 | 17.8 |
2080 | 13.3 | 12.8 | 17.9 | 17.9 |
2081 | 13.3 | 12.8 | 17.9 | 17.9 |
2082 | 13.3 | 12.8 | 17.9 | 17.9 |
2083 | 13.3 | 12.8 | 18.0 | 17.9 |
2084 | 13.3 | 12.8 | 18.0 | 18.0 |
2085 | 13.3 | 12.8 | 18.0 | 18.0 |
2086 | 13.3 | 12.8 | 18.1 | 18.0 |
2087 | 13.3 | 12.7 | 18.1 | 18.1 |
2088 | 13.3 | 12.7 | 18.2 | 18.1 |
2089 | 13.3 | 12.7 | 18.2 | 18.2 |
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