Proposed Provision: E3.11. Beginning in 2024, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017, with the threshold wage-indexed after 2024. Do not provide benefit credit for additional earnings taxed.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Present Law |
Provision |
| 2016 | 303 | 303 |
| 2017 | 293 | 293 |
| 2018 | 277 | 277 |
| 2019 | 262 | 262 |
| 2020 | 246 | 246 |
| 2021 | 231 | 231 |
| 2022 | 216 | 216 |
| 2023 | 200 | 200 |
| 2024 | 183 | 183 |
| 2025 | 165 | 167 |
| 2026 | 149 | 151 |
| 2027 | 132 | 136 |
| 2028 | 115 | 120 |
| 2029 | 98 | 104 |
| 2030 | 81 | 88 |
| 2031 | 64 | 72 |
| 2032 | 46 | 56 |
| 2033 | 27 | 39 |
| 2034 | 8 | 21 |
| 2035 | -11 | 3 |
| 2036 | -30 | -15 |
| 2037 | -50 | -33 |
| 2038 | -71 | -52 |
| 2039 | -91 | -72 |
| 2040 | -112 | -91 |
| 2041 | -133 | -111 |
| 2042 | -154 | -130 |
| 2043 | -176 | -150 |
| 2044 | -197 | -170 |
| 2045 | -218 | -190 |
| 2046 | -240 | -210 |
| 2047 | -262 | -230 |
| 2048 | -283 | -250 |
| 2049 | -305 | -270 |
| 2050 | -327 | -290 |
| 2051 | -349 | -311 |
| 2052 | -371 | -331 |
| 2053 | -393 | -351 |
| 2054 | -415 | -372 |
| 2055 | -437 | -393 |
| 2056 | -460 | -413 |
| 2057 | -482 | -435 |
| 2058 | -506 | -456 |
| 2059 | -529 | -478 |
| 2060 | -553 | -501 |
| 2061 | -578 | -523 |
| 2062 | -603 | -547 |
| 2063 | -628 | -570 |
| 2064 | -654 | -594 |
| 2065 | -680 | -619 |
| 2066 | -706 | -643 |
| 2067 | -733 | -669 |
| 2068 | -760 | -694 |
| 2069 | -788 | -720 |
| 2070 | -816 | -747 |
| 2071 | -845 | -773 |
| 2072 | -874 | -801 |
| 2073 | -905 | -829 |
| 2074 | -935 | -858 |
| 2075 | -967 | -888 |
| 2076 | -1000 | -919 |
| 2077 | -1033 | -950 |
| 2078 | -1068 | -982 |
| 2079 | -1102 | -1015 |
| 2080 | -1138 | -1048 |
| 2081 | -1173 | -1081 |
| 2082 | -1208 | -1114 |
| 2083 | -1243 | -1147 |
| 2084 | -1279 | -1180 |
| 2085 | -1314 | -1213 |
| 2086 | -1349 | -1246 |
| 2087 | -1384 | -1279 |
| 2088 | -1419 | -1313 |
| 2089 | -1455 | -1346 |
| 2090 | -1491 | -1380 |
| 2091 | -1528 | -1415 |
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