The Social Security Administration announced that the wage base for computing the Social Security tax (OASDI) in 2017 will increase to $127,200, which is up from $118,500 in 2016. The Social Security Act provides for an automatic increase in Social Security and Supplemental Security Income (SSI) benefits if there is an increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The Federal Insurance Contributions Act (FICA) imposes two taxes on e