Detailed Single Year Tables

Payroll Taxes (including maximum taxable)	Description of Proposed Provision: Apply a 2 percent payroll tax on earnings above the current-law taxable maximum for years 2017-2064, and a 3 percent rate for years 2065 and later. Do not provide benefit credit for earnings above the current-law taxable maximum.

			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	13.30	-0.67	277	0.00	0.39	0.39
2018	14.02	13.35	-0.67	265	0.00	0.41	0.41
2019	14.15	13.36	-0.79	253	0.00	0.41	0.41
2020	14.33	13.37	-0.96	241	0.00	0.41	0.41
2021	14.50	13.39	-1.11	229	0.00	0.41	0.41
2022	14.74	13.41	-1.32	217	0.00	0.40	0.40
2023	15.00	13.43	-1.57	203	0.00	0.40	0.40
2024	15.28	13.45	-1.82	189	0.00	0.40	0.40
2025	15.54	13.47	-2.07	174	0.00	0.40	0.40
2026	15.79	13.49	-2.30	159	0.00	0.40	0.40
2027	16.02	13.51	-2.52	144	0.00	0.40	0.40
2028	16.24	13.52	-2.72	128	0.00	0.40	0.40
2029	16.43	13.54	-2.90	112	0.00	0.40	0.40
2030	16.60	13.55	-3.05	96	0.00	0.40	0.40
2031	16.74	13.56	-3.19	78	0.00	0.40	0.40
2032	16.86	13.57	-3.29	60	0.00	0.40	0.40
2033	16.95	13.58	-3.37	42	0.00	0.40	0.41
2034	17.03	13.58	-3.45	22	0.00	0.40	0.41
2035	17.09	13.59	-3.50	3	0.00	0.40	0.41
2036	17.12	13.59	-3.53	----	0.00	0.40	0.41
2037	17.14	13.60	-3.54	----	-0.01	0.40	0.41
2038	17.13	13.60	-3.53	----	-0.01	0.40	0.41
2039	17.11	13.60	-3.51	----	-0.01	0.40	0.41
2040	17.08	13.60	-3.48	----	-0.01	0.40	0.41
2041	17.04	13.60	-3.44	----	-0.01	0.40	0.41
2042	17.01	13.60	-3.41	----	-0.01	0.40	0.41
2043	16.97	13.60	-3.37	----	-0.01	0.40	0.41
2044	16.95	13.60	-3.35	----	-0.01	0.40	0.41
2045	16.93	13.60	-3.33	----	-0.01	0.40	0.41
2046	16.92	13.60	-3.32	----	-0.01	0.40	0.41
2047	16.91	13.60	-3.31	----	-0.01	0.40	0.41
2048	16.89	13.60	-3.29	----	-0.01	0.40	0.41
2049	16.88	13.60	-3.28	----	-0.01	0.40	0.41
2050	16.88	13.60	-3.27	----	-0.01	0.40	0.41
2051	16.89	13.61	-3.28	----	-0.01	0.40	0.41
2052	16.90	13.61	-3.29	----	-0.01	0.40	0.41
2053	16.93	13.61	-3.32	----	-0.01	0.40	0.42
2054	16.96	13.61	-3.35	----	-0.01	0.40	0.42
2055	17.00	13.62	-3.38	----	-0.01	0.40	0.42
2056	17.05	13.62	-3.43	----	-0.01	0.40	0.42
2057	17.10	13.62	-3.47	----	-0.01	0.40	0.42
2058	17.15	13.63	-3.52	----	-0.01	0.40	0.42
2059	17.20	13.63	-3.56	----	-0.01	0.40	0.42
2060	17.24	13.64	-3.61	----	-0.01	0.40	0.42
2061	17.29	13.64	-3.65	----	-0.01	0.41	0.42
2062	17.34	13.64	-3.70	----	-0.02	0.41	0.42
2063	17.39	13.65	-3.74	----	-0.02	0.41	0.42
2064	17.43	13.65	-3.78	----	-0.02	0.41	0.42
2065	17.48	13.84	-3.64	----	-0.02	0.59	0.61
2066	17.53	13.85	-3.68	----	-0.02	0.61	0.62
2067	17.58	13.86	-3.72	----	-0.02	0.61	0.62
2068	17.63	13.86	-3.77	----	-0.02	0.61	0.62
2069	17.68	13.86	-3.81	----	-0.02	0.61	0.62
2070	17.72	13.87	-3.85	----	-0.02	0.61	0.62
2071	17.76	13.87	-3.89	----	-0.02	0.61	0.62
2072	17.80	13.87	-3.93	----	-0.02	0.61	0.62
2073	17.83	13.88	-3.95	----	-0.02	0.61	0.63
2074	17.85	13.88	-3.97	----	-0.02	0.61	0.63
2075	17.86	13.88	-3.98	----	-0.02	0.61	0.63
2076	17.87	13.88	-3.99	----	-0.02	0.61	0.63
2077	17.88	13.88	-3.99	----	-0.02	0.61	0.63
2078	17.87	13.88	-3.99	----	-0.02	0.61	0.63
2079	17.88	13.88	-3.99	----	-0.02	0.61	0.63
2080	17.88	13.88	-4.00	----	-0.02	0.61	0.63
2081	17.90	13.88	-4.01	----	-0.02	0.61	0.63
2082	17.92	13.88	-4.03	----	-0.02	0.61	0.63
2083	17.95	13.89	-4.06	----	-0.02	0.61	0.63
2084	17.98	13.89	-4.09	----	-0.02	0.61	0.63
2085	18.02	13.89	-4.13	----	-0.02	0.61	0.63
2086	18.07	13.89	-4.17	----	-0.02	0.61	0.63
2087	18.12	13.90	-4.22	----	-0.02	0.61	0.63
2088	18.17	13.90	-4.27	----	-0.02	0.61	0.63
2089	18.22	13.90	-4.32	----	-0.02	0.61	0.63

				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	16.76%	14.32%	-2.44%	2035	-0.01%	0.43%	0.44%

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


	Privacy Policy \| Website Policies & Other Important Information \| Site Map Last reviewed or modified September 18, 2014

Detailed Single Year Tables

Description of Proposed Provision: Apply a 2 percent payroll tax on earnings above the current-law taxable maximum for years 2017-2064, and a 3 percent rate for years 2065 and later. Do not provide benefit credit for earnings above the current-law taxable maximum.

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates

Description of Proposed Provision:
Apply a 2 percent payroll tax on earnings above the current-law taxable maximum for years 2017-2064, and a 3 percent rate for years 2065 and later. Do not provide benefit credit for earnings above the current-law taxable maximum.