Proposed Provision: E3.19. Increase the taxable maximum such that 90 percent of earnings would be subject to the payroll tax (phased in linearly from 2025-2030). Provide benefit credit for additional earnings taxed, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from additional annual earnings taxed over the current-law taxable maximum; and (2) a formula factor of 2.5 percent on this newly computed "AIME+".
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2023 | 204 | 204 |
| 2024 | 187 | 187 |
| 2025 | 168 | 168 |
| 2026 | 149 | 151 |
| 2027 | 131 | 136 |
| 2028 | 114 | 122 |
| 2029 | 96 | 109 |
| 2030 | 78 | 97 |
| 2031 | 60 | 85 |
| 2032 | 43 | 73 |
| 2033 | 25 | 62 |
| 2034 | 7 | 50 |
| 2035 | -12 | 38 |
| 2036 | -31 | 26 |
| 2037 | -51 | 13 |
| 2038 | -70 | 0 |
| 2039 | -91 | -14 |
| 2040 | -112 | -27 |
| 2041 | -133 | -42 |
| 2042 | -154 | -56 |
| 2043 | -176 | -70 |
| 2044 | -198 | -85 |
| 2045 | -220 | -99 |
| 2046 | -243 | -114 |
| 2047 | -265 | -129 |
| 2048 | -288 | -145 |
| 2049 | -311 | -160 |
| 2050 | -333 | -175 |
| 2051 | -357 | -191 |
| 2052 | -380 | -207 |
| 2053 | -403 | -223 |
| 2054 | -427 | -239 |
| 2055 | -450 | -255 |
| 2056 | -474 | -272 |
| 2057 | -498 | -289 |
| 2058 | -522 | -306 |
| 2059 | -547 | -324 |
| 2060 | -572 | -342 |
| 2061 | -597 | -360 |
| 2062 | -623 | -379 |
| 2063 | -650 | -399 |
| 2064 | -677 | -419 |
| 2065 | -705 | -439 |
| 2066 | -733 | -460 |
| 2067 | -762 | -481 |
| 2068 | -791 | -503 |
| 2069 | -820 | -525 |
| 2070 | -850 | -547 |
| 2071 | -880 | -570 |
| 2072 | -911 | -593 |
| 2073 | -942 | -616 |
| 2074 | -974 | -640 |
| 2075 | -1006 | -665 |
| 2076 | -1039 | -690 |
| 2077 | -1074 | -716 |
| 2078 | -1108 | -742 |
| 2079 | -1144 | -769 |
| 2080 | -1181 | -797 |
| 2081 | -1218 | -825 |
| 2082 | -1256 | -853 |
| 2083 | -1294 | -882 |
| 2084 | -1333 | -911 |
| 2085 | -1373 | -940 |
| 2086 | -1413 | -970 |
| 2087 | -1453 | -1000 |
| 2088 | -1494 | -1029 |
| 2089 | -1534 | -1059 |
| 2090 | -1574 | -1088 |
| 2091 | -1613 | -1117 |
| 2092 | -1651 | -1145 |
| 2093 | -1689 | -1173 |
| 2094 | -1726 | -1200 |
| 2095 | -1762 | -1227 |
| 2096 | -1798 | -1253 |
| 2097 | -1833 | -1279 |
| 2098 | -1868 | -1304 |
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