Proposed Provision: Increase the taxable maximum by an additional 2 percent per year beginning in 2016 until taxable earnings equal 90 percent of covered earnings. Provide benefit credit for earnings up to the revised taxable maximum. Create a new bend point equal to the current-law taxable maximum with a 5 percent formula factor applying above the new bend point.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Present Law |
Provision |
2014 | 320 | 320 |
2015 | 306 | 306 |
2016 | 292 | 292 |
2017 | 277 | 277 |
2018 | 262 | 263 |
2019 | 248 | 249 |
2020 | 233 | 236 |
2021 | 219 | 222 |
2022 | 203 | 209 |
2023 | 187 | 194 |
2024 | 171 | 180 |
2025 | 154 | 165 |
2026 | 137 | 150 |
2027 | 119 | 134 |
2028 | 101 | 119 |
2029 | 83 | 103 |
2030 | 64 | 87 |
2031 | 44 | 70 |
2032 | 23 | 52 |
2033 | 2 | 34 |
2034 | -20 | 16 |
2035 | -42 | -2 |
2036 | -65 | -21 |
2037 | -88 | -40 |
2038 | -112 | -59 |
2039 | -136 | -79 |
2040 | -160 | -98 |
2041 | -185 | -117 |
2042 | -210 | -137 |
2043 | -235 | -156 |
2044 | -260 | -176 |
2045 | -285 | -195 |
2046 | -310 | -214 |
2047 | -336 | -234 |
2048 | -362 | -254 |
2049 | -388 | -273 |
2050 | -415 | -293 |
2051 | -442 | -313 |
2052 | -468 | -333 |
2053 | -495 | -352 |
2054 | -523 | -372 |
2055 | -550 | -393 |
2056 | -578 | -413 |
2057 | -606 | -434 |
2058 | -635 | -456 |
2059 | -664 | -478 |
2060 | -694 | -500 |
2061 | -725 | -523 |
2062 | -756 | -546 |
2063 | -787 | -570 |
2064 | -819 | -595 |
2065 | -852 | -619 |
2066 | -885 | -645 |
2067 | -918 | -670 |
2068 | -952 | -697 |
2069 | -987 | -723 |
2070 | -1022 | -750 |
2071 | -1057 | -778 |
2072 | -1094 | -807 |
2073 | -1132 | -836 |
2074 | -1171 | -866 |
2075 | -1210 | -897 |
2076 | -1251 | -929 |
2077 | -1293 | -962 |
2078 | -1335 | -995 |
2079 | -1378 | -1028 |
2080 | -1421 | -1062 |
2081 | -1464 | -1096 |
2082 | -1507 | -1129 |
2083 | -1550 | -1163 |
2084 | -1593 | -1197 |
2085 | -1636 | -1231 |
2086 | -1680 | -1266 |
2087 | -1724 | -1301 |
2088 | -1769 | -1336 |
2089 | -1814 | -1372 |
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