Proposed Provision: Beginning in 2020, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017, with the threshold wage-indexed after 2020. Provide proportional benefit credit for additional earnings taxed.

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

Year Present Law Provision
2012340340
2013329329
2014315315
2015302302
2016290290
2017277277
2018265265
2019253253
2020240240
2021227228
2022212215
2023197201
2024181187
2025164171
2026147155
2027129138
2028110121
202990102
20307083
20314963
20322743
2033522
2034-180
2035-41-21
2036-65-44
2037-89-66
2038-114-89
2039-138-113
2040-163-136
2041-189-160
2042-215-184
2043-240-208
2044-266-233
2045-292-257
2046-319-282
2047-346-307
2048-373-333
2049-400-358
2050-428-384
2051-456-410
2052-484-436
2053-512-463
2054-540-489
2055-569-516
2056-598-544
2057-628-571
2058-657-599
2059-688-628
2060-719-657
2061-750-687
2062-782-717
2063-814-747
2064-847-778
2065-880-809
2066-913-840
2067-946-871
2068-980-903
2069-1014-935
2070-1049-968
2071-1084-1001
2072-1120-1035
2073-1156-1069
2074-1193-1104
2075-1230-1139
2076-1268-1175
2077-1307-1212
2078-1346-1249
2079-1385-1286
2080-1425-1324
2081-1465-1362
2082-1505-1400
2083-1547-1439
2084-1588-1479
2085-1631-1519
2086-1673-1560
2087-1717-1601
back