Detailed Single Year Tables

Payroll Taxes (including maximum taxable)	Description of Proposed Provision: Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2020-2039, until the rate reaches 14.4 percent in 2039 and later.

			Financial Estimates for the OASDI Trust Fund Program

	Proposal				Change from Present Law
	Expressed as a percentage of present-law taxable payroll			Trust fund ratio as of January 1	Expressed as a percentage of present-law taxable payroll
Calendar year	Cost rate	Income rate	Annual balance	Trust fund ratio as of January 1	Cost rate	Income rate	Annual balance
2014	13.95	12.67	-1.29	320	0.00	0.00	0.00
2015	13.97	12.92	-1.05	306	0.00	0.00	0.00
2016	13.97	12.89	-1.08	292	0.00	0.00	0.00
2017	13.97	12.91	-1.06	277	0.00	0.00	0.00
2018	14.02	12.93	-1.08	262	0.00	0.00	0.00
2019	14.15	12.95	-1.20	248	0.00	0.00	0.00
2020	14.33	13.05	-1.28	233	0.00	0.09	0.09
2021	14.50	13.17	-1.33	219	0.00	0.19	0.19
2022	14.74	13.29	-1.44	205	0.00	0.28	0.28
2023	15.00	13.41	-1.59	191	0.00	0.38	0.38
2024	15.28	13.52	-1.75	177	0.00	0.47	0.47
2025	15.54	13.64	-1.90	163	0.00	0.57	0.57
2026	15.79	13.75	-2.04	149	0.00	0.66	0.66
2027	16.02	13.86	-2.16	136	0.00	0.76	0.76
2028	16.24	13.97	-2.27	122	0.00	0.85	0.85
2029	16.43	14.08	-2.35	109	0.00	0.95	0.95
2030	16.60	14.19	-2.41	95	0.00	1.04	1.05
2031	16.74	14.29	-2.45	82	0.00	1.14	1.14
2032	16.86	14.40	-2.46	68	0.00	1.23	1.24
2033	16.95	14.50	-2.45	54	0.00	1.33	1.33
2034	17.03	14.60	-2.43	41	-0.01	1.42	1.43
2035	17.08	14.70	-2.38	27	-0.01	1.52	1.52
2036	17.12	14.80	-2.32	14	-0.01	1.61	1.62
2037	17.14	14.90	-2.24	1	-0.01	1.70	1.71
2038	17.13	14.99	-2.13	----	-0.01	1.80	1.81
2039	17.11	15.09	-2.02	----	-0.01	1.89	1.90
2040	17.08	15.10	-1.98	----	-0.01	1.90	1.91
2041	17.04	15.10	-1.94	----	-0.01	1.90	1.91
2042	17.00	15.10	-1.90	----	-0.01	1.90	1.91
2043	16.97	15.10	-1.87	----	-0.01	1.90	1.91
2044	16.94	15.10	-1.85	----	-0.01	1.90	1.91
2045	16.93	15.10	-1.83	----	-0.02	1.90	1.91
2046	16.91	15.10	-1.81	----	-0.02	1.90	1.92
2047	16.90	15.10	-1.80	----	-0.02	1.90	1.92
2048	16.88	15.10	-1.78	----	-0.02	1.90	1.92
2049	16.87	15.10	-1.77	----	-0.02	1.90	1.92
2050	16.87	15.10	-1.77	----	-0.02	1.90	1.92
2051	16.87	15.10	-1.77	----	-0.02	1.90	1.92
2052	16.89	15.11	-1.78	----	-0.03	1.90	1.93
2053	16.91	15.11	-1.80	----	-0.03	1.90	1.93
2054	16.94	15.11	-1.83	----	-0.03	1.90	1.93
2055	16.98	15.11	-1.87	----	-0.03	1.90	1.93
2056	17.03	15.12	-1.91	----	-0.03	1.90	1.93
2057	17.08	15.12	-1.95	----	-0.03	1.90	1.94
2058	17.12	15.13	-2.00	----	-0.04	1.90	1.94
2059	17.17	15.13	-2.04	----	-0.04	1.90	1.94
2060	17.22	15.13	-2.09	----	-0.04	1.90	1.94
2061	17.26	15.14	-2.13	----	-0.04	1.90	1.95
2062	17.31	15.14	-2.17	----	-0.04	1.90	1.95
2063	17.36	15.14	-2.21	----	-0.05	1.90	1.95
2064	17.40	15.15	-2.25	----	-0.05	1.90	1.95
2065	17.45	15.15	-2.30	----	-0.05	1.90	1.95
2066	17.50	15.15	-2.34	----	-0.05	1.91	1.96
2067	17.54	15.16	-2.39	----	-0.05	1.91	1.96
2068	17.59	15.16	-2.43	----	-0.05	1.91	1.96
2069	17.64	15.16	-2.47	----	-0.06	1.91	1.96
2070	17.68	15.17	-2.51	----	-0.06	1.91	1.96
2071	17.72	15.17	-2.55	----	-0.06	1.91	1.97
2072	17.76	15.17	-2.58	----	-0.06	1.91	1.97
2073	17.78	15.18	-2.61	----	-0.06	1.91	1.97
2074	17.80	15.18	-2.63	----	-0.06	1.91	1.97
2075	17.82	15.18	-2.64	----	-0.06	1.91	1.97
2076	17.83	15.18	-2.65	----	-0.06	1.91	1.97
2077	17.83	15.18	-2.65	----	-0.06	1.91	1.97
2078	17.83	15.18	-2.65	----	-0.07	1.91	1.98
2079	17.83	15.18	-2.65	----	-0.07	1.91	1.98
2080	17.83	15.18	-2.65	----	-0.07	1.91	1.98
2081	17.85	15.19	-2.66	----	-0.07	1.91	1.98
2082	17.87	15.19	-2.68	----	-0.07	1.91	1.98
2083	17.90	15.19	-2.71	----	-0.07	1.91	1.98
2084	17.93	15.19	-2.74	----	-0.07	1.91	1.98
2085	17.97	15.19	-2.78	----	-0.07	1.91	1.98
2086	18.02	15.20	-2.82	----	-0.07	1.91	1.99
2087	18.07	15.20	-2.87	----	-0.07	1.92	1.99
2088	18.12	15.21	-2.91	----	-0.07	1.92	1.99
2089	18.17	15.21	-2.96	----	-0.07	1.92	1.99

				Summarized Estimates

	Proposal				Change from Present Law
Years	Cost rate	Income rate	Actuarial balance	Year of reserve depletion¹	Cost rate	Income rate	Actuarial balance

Based on Intermediate Assumptions of the 2014 Trustees Report.
2014-2088	16.75%	15.28%	-1.46%	2037	-0.02%	1.39%	1.42%

¹ Under present law, the year of Trust Fund reserve depletion is 2033.


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Detailed Single Year Tables

Description of Proposed Provision: Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2020-2039, until the rate reaches 14.4 percent in 2039 and later.

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates

Description of Proposed Provision:
Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2020-2039, until the rate reaches 14.4 percent in 2039 and later.