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Summary Measures and Graphs
Payroll Taxes (including maximum taxable)

Description of Proposed Provision:
Eliminate the taxable maximum for the employer payroll tax (6.2 percent) beginning in 2015. For the employee payroll tax (6.2 percent) and for benefit credit purposes, beginning in 2015, increase the taxable maximum by an additional 2 percent per year until taxable earnings equal 90 percent of covered earnings.

Estimates based on the intermediate assumptions of the 2014 Trustees Report

Summary Measures
Present Law
[percent of payroll]		 Change from present law
[percent of payroll]		 Shortfall Eliminated
Long-range
actuarial
balance		 Annual
balance in
75th year		 Long-range
actuarial
balance		 Annual
balance in
75th year		 Long-range
actuarial
balance		 Annual
balance in
75th year
-2.88 -4.90 1.43 1.38 50% 28%


graph of OASDI cost rates and income rates by year, under present law and provision. click on graph to view underlying data. graph of OASDI trust fund ratio by year, under present law and provision. click on graph to view underlying data.
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Last reviewed or modified September 18, 2014