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Provisions Affecting Payroll Tax Rates
|Present law Social Security and Medicare tax rates||
These provisions modify the current-law OASDI payroll tax rate of 12.4 percent (6.2 percent each for employees and employers). For the provisions listed below, we provide estimates of the financial effect on the OASDI program over the long-range period (the next 75 years) and for the 75th year. In addition, we provide detailed single year tables.
All estimates are based on the intermediate assumptions described in the 2008 Trustees Report. Choose the type of estimates (summary or detailed) from the list of provisions.
|Number||Table and graph selection|
|D1||Raise payroll tax rates (for employees and employers combined) by 1.8 percentage points in 2009 and later.|
|D2||Raise payroll tax rates (for employees and employers combined) by 1.6 percentage points in 2021 (to 14.0% combined) and by an additional 1.6 percentage points in 2051 (to 15.6% combined).|
|D3||Beginning in 2009, reduce the combined OASDI payroll tax rate from 12.4 percent to 11.4 percent.|
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Last reviewed or modified May 12, 2009