Joint resolution proposing an amendment to the Constitution of the United States relative to abolishing personal income, estate, and gift taxes and prohibiting the U.S. Government from engaging in business in competition with its citizens.

Constitutional Amendment - Provides that the Government of the United States shall not engage in any business, professional, commercial, financial, or industrial enterprise except as specified in the Constitution and that any activities of the U.S. Government which violate the intent and purposes of this amendment shall, within a period of three years, be liquidated and the properties and facilities affected shall be sold.

Stipulates that three years after the ratification of this amendment the sixteenth amendment shall stand repealed and thereafter Congress shall not levy taxes on personal incomes, estates, and/or gifts.