Proposed Provision: E1.8. Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2020-2025, until the rate reaches 13.0 percent for 2025 and later.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2017 | 298 | 298 |
| 2018 | 287 | 287 |
| 2019 | 273 | 273 |
| 2020 | 259 | 259 |
| 2021 | 245 | 245 |
| 2022 | 230 | 232 |
| 2023 | 215 | 219 |
| 2024 | 199 | 205 |
| 2025 | 182 | 191 |
| 2026 | 165 | 178 |
| 2027 | 148 | 164 |
| 2028 | 130 | 149 |
| 2029 | 112 | 134 |
| 2030 | 94 | 120 |
| 2031 | 75 | 104 |
| 2032 | 56 | 89 |
| 2033 | 37 | 73 |
| 2034 | 16 | 56 |
| 2035 | -4 | 39 |
| 2036 | -26 | 21 |
| 2037 | -47 | 3 |
| 2038 | -70 | -15 |
| 2039 | -92 | -34 |
| 2040 | -115 | -53 |
| 2041 | -138 | -71 |
| 2042 | -161 | -90 |
| 2043 | -184 | -109 |
| 2044 | -207 | -128 |
| 2045 | -230 | -147 |
| 2046 | -253 | -165 |
| 2047 | -276 | -184 |
| 2048 | -300 | -203 |
| 2049 | -323 | -222 |
| 2050 | -346 | -241 |
| 2051 | -370 | -259 |
| 2052 | -393 | -278 |
| 2053 | -417 | -297 |
| 2054 | -440 | -316 |
| 2055 | -464 | -335 |
| 2056 | -487 | -354 |
| 2057 | -511 | -374 |
| 2058 | -536 | -393 |
| 2059 | -560 | -413 |
| 2060 | -585 | -434 |
| 2061 | -611 | -455 |
| 2062 | -637 | -476 |
| 2063 | -663 | -498 |
| 2064 | -690 | -520 |
| 2065 | -717 | -542 |
| 2066 | -745 | -565 |
| 2067 | -772 | -588 |
| 2068 | -801 | -611 |
| 2069 | -829 | -635 |
| 2070 | -858 | -659 |
| 2071 | -888 | -684 |
| 2072 | -918 | -709 |
| 2073 | -949 | -735 |
| 2074 | -981 | -762 |
| 2075 | -1014 | -789 |
| 2076 | -1047 | -817 |
| 2077 | -1082 | -846 |
| 2078 | -1117 | -875 |
| 2079 | -1153 | -905 |
| 2080 | -1190 | -936 |
| 2081 | -1227 | -966 |
| 2082 | -1264 | -997 |
| 2083 | -1300 | -1028 |
| 2084 | -1337 | -1058 |
| 2085 | -1374 | -1089 |
| 2086 | -1410 | -1119 |
| 2087 | -1446 | -1150 |
| 2088 | -1483 | -1180 |
| 2089 | -1520 | -1211 |
| 2090 | -1557 | -1242 |
| 2091 | -1595 | -1274 |
| 2092 | -1633 | -1306 |
back