Senate Joint Resolution No. 160 and House Joint Resolution No. 297 established a Joint Subcommittee of members from the House Finance and Appropriations Committees, the Senate Finance Committee, and at-large members of the House of Delegates and the Senate of Virginia to study the necessity for imposing, either by statute or by Constitutional amendment, tax limitations or expenditure restrictions at either the State level, local level or both.

Pursuant to this directive, the following were appointed to serve on the joint subcommittee: Senator Edward E. Willey, Chairman; Delegate Owen B. Pickett, Vice-Chairman; Senator Hunter B. Andrews; Delegate Gerald L. Baliles; Delegate Orby L. cantrell; Delegate Ray L. Garland; Senator William B. Hopkins; Senator J. Harry Michael, Jr.; Delegate Thomas J. Michie, Jr.; Senator Willard J. Moody; Delegate Theodore V. Morrison, Jr.; Senator Elliot S. Schewel; Delegate Warren G. Stambaugh; Delegate S. Vance Wilkins, Jr.

The Joint Subcommittee was assisted in its study by the Division of Legislative Services. Specific staff assigned were John A. Garka, Economist, and E. M. Miller, Jr., Senior Attorney.