Projected Social Security Tax Hike in 2027
The Social Security payroll tax rate will remain at 12.4% in 2027, but the taxable wage base could increase, potentially exposing higher earnings to Social Security taxes. Long-term scenarios suggest that raising the combined payroll tax rate to around 16.65% could be required to ensure solvency over 75 years, though no rate increase is currently planned. The adjustment to the taxable wage cap, tied to average wage growth, is the primary change for workers in 2027.
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