Proposed Provision: E1.1. Increase the payroll tax rate (currently 12.4 percent) to 16.2 percent in 2024 and later.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Current Law Provision
2023204204
2024187187
2025168189
2026149193
2027131196
2028114200
202996202
203078204
203160206
203243208
203325210
20347212
2035-12216
2036-31219
2037-51223
2038-70226
2039-91229
2040-112232
2041-133235
2042-154238
2043-176242
2044-198245
2045-220248
2046-243251
2047-265254
2048-288257
2049-311260
2050-333263
2051-357265
2052-380267
2053-403269
2054-427270
2055-450271
2056-474272
2057-498272
2058-522272
2059-547271
2060-572270
2061-597269
2062-623267
2063-650265
2064-677263
2065-705260
2066-733258
2067-762255
2068-791252
2069-820248
2070-850244
2071-880240
2072-911236
2073-942231
2074-974227
2075-1006222
2076-1039217
2077-1074212
2078-1108207
2079-1144202
2080-1181197
2081-1218193
2082-1256188
2083-1294184
2084-1333180
2085-1373176
2086-1413173
2087-1453169
2088-1494167
2089-1534164
2090-1574162
2091-1613160
2092-1651158
2093-1689156
2094-1726154
2095-1762152
2096-1798150
2097-1833148
2098-1868146
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