Proposed Provision: E3.8. Beginning in 2031, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $200,000 in 2017 (about $348,300 in 2031), with the threshold wage-indexed after 2031. Provide proportional benefit credit for additional earnings taxed, based on the payroll tax rate applied to the additional earnings divided by the full 12.4 percent payroll tax rate.

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

Year Current Law Provision
2023204204
2024187187
2025168168
2026149149
2027131131
2028114114
20299696
20307878
20316060
20324344
20332528
2034712
2035-12-5
2036-31-22
2037-51-40
2038-70-58
2039-91-77
2040-112-96
2041-133-116
2042-154-135
2043-176-155
2044-198-175
2045-220-196
2046-243-216
2047-265-237
2048-288-257
2049-311-278
2050-333-300
2051-357-321
2052-380-342
2053-403-364
2054-427-385
2055-450-407
2056-474-429
2057-498-451
2058-522-474
2059-547-497
2060-572-520
2061-597-544
2062-623-569
2063-650-594
2064-677-619
2065-705-645
2066-733-672
2067-762-699
2068-791-726
2069-820-754
2070-850-782
2071-880-810
2072-911-839
2073-942-869
2074-974-899
2075-1006-929
2076-1039-961
2077-1074-993
2078-1108-1026
2079-1144-1060
2080-1181-1095
2081-1218-1130
2082-1256-1166
2083-1294-1202
2084-1333-1239
2085-1373-1276
2086-1413-1314
2087-1453-1352
2088-1494-1391
2089-1534-1429
2090-1574-1467
2091-1613-1504
2092-1651-1540
2093-1689-1576
2094-1726-1611
2095-1762-1646
2096-1798-1680
2097-1833-1713
2098-1868-1746
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