A bill to amend the Internal Revenue Code of 1954 and the Social Security Act to provide that benefits which are received under cafeteria plans and which are not subject to income tax shall not be subject to social security taxes.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code and title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to provide that compensation reasonably believed to be cafeteria plan benefits excludable from gross income shall not be subject to social security taxes.…