Carl Icahn to fund super PAC to push corporate tax reform
Carl Icahn says he's investing $150 million to start a super Pac to promote corporate tax reform.
In a letter sent to members of Congress Wednesday, the billionaire investor said lawmakers need to be held accountable for gridlock that he says is keeping Congress from passing legislation to "immediately stop so many of our great companies from leaving our country."
The culprit are "corporate tax inversions," which have U.S. companies merging with, or being purchased by, foreign companies, said the financier, who has been touted by Republican front-runner Donald Trump as a potential Treasury Secretary or other emissary in a Trump administration.
The money Icahn is committing "will be more than enough to make voters fully aware of the horrible consequences that will ensue if Congress fails to pass legislation."
The problem, he argues, can be solved by passing international tax reform that is outlined in bipartisan legislation to fund U.S. highways.