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

Year Current Law Provision
2022230230
2023211211
2024194207
2025177203
2026160197
2027143192
2028126187
2029109182
203091176
203174171
203257166
203339162
203421157
20353154
2036-16151
2037-35148
2038-54145
2039-74141
2040-95138
2041-116134
2042-137130
2043-158127
2044-180123
2045-202118
2046-224114
2047-246110
2048-268105
2049-291101
2050-31396
2051-33691
2052-35985
2053-38380
2054-40674
2055-43068
2056-45362
2057-47755
2058-50148
2059-52541
2060-55033
2061-57525
2062-60117
2063-6278
2064-654-1
2065-681-10
2066-708-20
2067-736-29
2068-764-39
2069-792-50
2070-821-61
2071-850-72
2072-880-83
2073-910-95
2074-940-107
2075-971-119
2076-1003-131
2077-1036-144
2078-1069-158
2079-1104-171
2080-1139-185
2081-1175-198
2082-1212-212
2083-1249-226
2084-1286-240
2085-1324-253
2086-1363-267
2087-1402-281
2088-1442-295
2089-1481-308
2090-1520-321
2091-1558-334
2092-1595-346
2093-1632-358
2094-1668-370
2095-1703-382
2096-1738-394
2097-1773-405
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