Proposed Provision: E2.2. Eliminate the taxable maximum in years 2021 and later, and apply full 12.4 percent payroll tax rate to all earnings. Provide benefit credit for earnings above the current-law taxable maximum.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2020 | 261 | 261 |
| 2021 | 248 | 248 |
| 2022 | 233 | 248 |
| 2023 | 217 | 247 |
| 2024 | 200 | 244 |
| 2025 | 183 | 241 |
| 2026 | 165 | 236 |
| 2027 | 148 | 231 |
| 2028 | 130 | 224 |
| 2029 | 112 | 218 |
| 2030 | 94 | 211 |
| 2031 | 76 | 205 |
| 2032 | 58 | 199 |
| 2033 | 39 | 192 |
| 2034 | 20 | 186 |
| 2035 | 1 | 180 |
| 2036 | -19 | 174 |
| 2037 | -38 | 168 |
| 2038 | -59 | 161 |
| 2039 | -80 | 155 |
| 2040 | -101 | 147 |
| 2041 | -122 | 140 |
| 2042 | -144 | 133 |
| 2043 | -166 | 125 |
| 2044 | -188 | 117 |
| 2045 | -210 | 110 |
| 2046 | -232 | 102 |
| 2047 | -255 | 94 |
| 2048 | -277 | 86 |
| 2049 | -299 | 77 |
| 2050 | -322 | 69 |
| 2051 | -344 | 60 |
| 2052 | -367 | 51 |
| 2053 | -389 | 42 |
| 2054 | -412 | 33 |
| 2055 | -434 | 23 |
| 2056 | -457 | 13 |
| 2057 | -480 | 3 |
| 2058 | -504 | -8 |
| 2059 | -527 | -18 |
| 2060 | -551 | -30 |
| 2061 | -575 | -42 |
| 2062 | -599 | -54 |
| 2063 | -624 | -66 |
| 2064 | -650 | -79 |
| 2065 | -676 | -92 |
| 2066 | -702 | -106 |
| 2067 | -728 | -120 |
| 2068 | -755 | -135 |
| 2069 | -782 | -150 |
| 2070 | -809 | -165 |
| 2071 | -837 | -181 |
| 2072 | -866 | -197 |
| 2073 | -895 | -214 |
| 2074 | -925 | -231 |
| 2075 | -955 | -248 |
| 2076 | -986 | -266 |
| 2077 | -1018 | -284 |
| 2078 | -1051 | -303 |
| 2079 | -1084 | -322 |
| 2080 | -1119 | -341 |
| 2081 | -1154 | -361 |
| 2082 | -1190 | -381 |
| 2083 | -1226 | -401 |
| 2084 | -1263 | -421 |
| 2085 | -1300 | -441 |
| 2086 | -1337 | -461 |
| 2087 | -1374 | -482 |
| 2088 | -1411 | -502 |
| 2089 | -1448 | -522 |
| 2090 | -1484 | -541 |
| 2091 | -1520 | -561 |
| 2092 | -1554 | -580 |
| 2093 | -1589 | -600 |
| 2094 | -1623 | -619 |
| 2095 | -1657 | -638 |
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