To terminate the taxes imposed by the Internal Revenue Code of 1986 other than Social Security and railroad retirement-related taxes.

Prohibits the imposition of any tax by the Internal Revenue Code: (1) for any taxable year beginning after December 31, 2000; and (2) in the case of any tax not imposed on the basis of a taxable year, on any taxable event or for any period after December 31, 2000. Prohibits the provisions of the preceding sentence from applying to taxes imposed by the following chapters of the Code: (1) two (relating to the tax on self-employment income); (2) 21 (Federal Insurance Contributions Act); and (3) 22 (Railroad Retirement Tax Act).