A bill to amend the Internal Revenue Code of 1954 to exempt from taxation the earned income of certain individuals working outside the United States.

Amends the Internal Revenue Code to eliminate restrictions on the tax exclusion available to U.S. citizens residing in foreign countries with respect to the dollar limitation, treatment of community income, attribution rules, and meals and lodging furnished by an employer.

Repeals provisions added by the Tax Reform Act of 1976 which allow income tax deductions for various expenses related to living abroad.