To amend the Internal Revenue Code of 1986 to provide for residents of Puerto Rico who participate in cafeteria plans under the Puerto Rican tax laws an exclusion from employment taxes which is comparable to the exclusion that applies to cafeteria plans under such Code.

Flexible benefit plans Income tax Labor and Employment Old age, survivors and disability insurance Payroll deductions Puerto Ricans Puerto Rico Social security taxes Social Welfare Tax exclusion Tax exemption Taxation Unemployment insurance Wages Withholding tax +12...