A bill to repeal section 5(b) of the Trading With the Enemy Act of 1917.

Amends the Trading with the Enemy Act of 1917 to repeal the power of the President, during time of war or national emergency: (1) to regulate transactions in foreign exchange involving any banking institution and gold or silver coin or bullion, currency or securities; and (2) to regulate transactions involving any property in which a foreign country or a foreign national has an interest.