The rights and liberties enumerated in this Constitution are the rights of human beings and are only guaranteed by this Constitution to human beings. Nothing in this Amendment shall be interpreted to deny Congress or the States to grant rights and responsibilities to legal entities, but such rights and responsibilities shall be statutory and not Constitutional.
This would have the effect of repealing decisions going back about 150 years giving Constitutional rights to corporations. If Congress wants to give corporations the right to free speech, it can, but it can also take it away. This would take away from the Courts the power to find regulations on corporations unconstitutional except to the extent they interfere with some other Constitutional right enjoyed by a human being.