Proposed Provision: Eliminate the taxable maximum in years 2013 and later, and apply full 12.4 percent payroll tax rate to all earnings. Provide benefit credit for earnings above the current-law taxable maximum, adding a bend point at the current-law taxable maximum and applying a formula factor of 3 percent for AIME above this new bend point.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Present Law |
Provision |
| 2012 | 340 | 340 |
| 2013 | 329 | 329 |
| 2014 | 315 | 330 |
| 2015 | 302 | 333 |
| 2016 | 290 | 336 |
| 2017 | 277 | 339 |
| 2018 | 265 | 342 |
| 2019 | 253 | 345 |
| 2020 | 240 | 346 |
| 2021 | 227 | 345 |
| 2022 | 212 | 343 |
| 2023 | 197 | 340 |
| 2024 | 181 | 337 |
| 2025 | 164 | 332 |
| 2026 | 147 | 327 |
| 2027 | 129 | 322 |
| 2028 | 110 | 316 |
| 2029 | 90 | 310 |
| 2030 | 70 | 303 |
| 2031 | 49 | 296 |
| 2032 | 27 | 288 |
| 2033 | 5 | 280 |
| 2034 | -18 | 272 |
| 2035 | -41 | 264 |
| 2036 | -65 | 256 |
| 2037 | -89 | 248 |
| 2038 | -114 | 240 |
| 2039 | -138 | 232 |
| 2040 | -163 | 224 |
| 2041 | -189 | 216 |
| 2042 | -215 | 209 |
| 2043 | -240 | 202 |
| 2044 | -266 | 194 |
| 2045 | -292 | 187 |
| 2046 | -319 | 180 |
| 2047 | -346 | 172 |
| 2048 | -373 | 165 |
| 2049 | -400 | 158 |
| 2050 | -428 | 151 |
| 2051 | -456 | 144 |
| 2052 | -484 | 136 |
| 2053 | -512 | 129 |
| 2054 | -540 | 121 |
| 2055 | -569 | 113 |
| 2056 | -598 | 105 |
| 2057 | -628 | 97 |
| 2058 | -657 | 89 |
| 2059 | -688 | 81 |
| 2060 | -719 | 72 |
| 2061 | -750 | 63 |
| 2062 | -782 | 55 |
| 2063 | -814 | 46 |
| 2064 | -847 | 37 |
| 2065 | -880 | 27 |
| 2066 | -913 | 18 |
| 2067 | -946 | 8 |
| 2068 | -980 | -2 |
| 2069 | -1014 | -12 |
| 2070 | -1049 | -22 |
| 2071 | -1084 | -32 |
| 2072 | -1120 | -43 |
| 2073 | -1156 | -54 |
| 2074 | -1193 | -66 |
| 2075 | -1230 | -77 |
| 2076 | -1268 | -89 |
| 2077 | -1307 | -101 |
| 2078 | -1346 | -113 |
| 2079 | -1385 | -126 |
| 2080 | -1425 | -139 |
| 2081 | -1465 | -152 |
| 2082 | -1505 | -165 |
| 2083 | -1547 | -179 |
| 2084 | -1588 | -193 |
| 2085 | -1631 | -207 |
| 2086 | -1673 | -222 |
| 2087 | -1717 | -237 |
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