Proposed Provision: E2.5. Apply 12.4 percent payroll tax rate on earnings above $250,000 starting in 2023, and tax all earnings once the current-law taxable maximum exceeds $250,000. Do not provide benefit credit for additional earnings taxed.

OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)

  Income Rates Cost Rates
Year Current Law Provision Current Law Provision
202212.812.814.114.1
202313.014.914.314.3
202413.015.014.414.4
202513.015.014.714.7
202613.115.114.914.9
202713.115.215.115.1
202813.115.315.315.3
202913.215.315.515.5
203013.215.415.715.7
203113.215.515.915.9
203213.215.516.116.0
203313.315.616.216.2
203413.315.716.316.3
203513.315.816.416.4
203613.315.816.516.4
203713.315.816.616.5
203813.315.816.616.6
203913.315.816.716.6
204013.315.816.716.6
204113.315.816.716.6
204213.315.816.816.7
204313.315.816.816.7
204413.315.816.816.7
204513.315.816.816.7
204613.315.816.816.7
204713.315.816.916.7
204813.315.816.916.8
204913.315.816.916.8
205013.315.816.916.8
205113.315.817.016.9
205213.315.817.016.9
205313.315.817.116.9
205413.315.817.117.0
205513.315.817.117.0
205613.315.917.217.1
205713.315.917.317.1
205813.415.917.317.2
205913.415.917.417.3
206013.415.917.517.3
206113.415.917.517.4
206213.415.917.617.5
206313.415.917.617.5
206413.415.917.717.6
206513.415.917.717.6
206613.415.917.817.7
206713.415.917.817.7
206813.415.917.917.8
206913.415.917.917.8
207013.415.918.017.9
207113.415.918.118.0
207213.415.918.118.0
207313.415.918.218.1
207413.415.918.218.1
207513.416.018.318.2
207613.416.018.318.2
207713.416.018.318.2
207813.416.018.318.2
207913.416.018.318.2
208013.416.018.318.2
208113.416.018.318.2
208213.416.018.218.2
208313.416.018.218.1
208413.416.018.218.1
208513.416.018.118.0
208613.416.018.018.0
208713.415.918.017.9
208813.415.917.917.8
208913.415.917.917.8
209013.415.917.817.7
209113.415.917.717.7
209213.415.917.717.6
209313.415.917.717.6
209413.415.917.717.6
209513.415.917.617.6
209613.415.917.617.6
209713.415.917.617.6
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