Billionaire Carl Icahn launches $150 million super PAC

POLITICO

Billionaire investor Carl Icahn announced Wednesday that he is forming a super PAC with $150 million of his own money “to help end the crippling dysfunction in Congress.”

“I am starting a Super PAC with my initial commitment of $150 million to help end the crippling dysfunction in Congress,” Icahn tweeted. In a follow-up tweet, he shared the letter he sent to the House Ways and Means Committee, the Senate Finance Committee, and House and Senate minority and majority leaders.

The super PAC’s first goal will be to reverse the trend of U.S. companies merging with foreign ones or relocating overseas because of high corporate taxes, Icahn said.

“If this exodus is allowed to accelerate, there will be disastrous consequences for our already fragile economy, as well as meaningful and unnecessary job losses. Foundational American companies, such as Pfizer, Walgreens, Monsanto, Omnicom, etc., have been reported publicly to be considering corporate “inversions” and currently many others are planning the same behind closed doors,” Icahn wrote in the letter, dated Tuesday.

“Throughout history, a country failing to take ‘simple actions’ necessary to prevent what could turn into disaster often leads to the decline of its hegemony. I hope and pray that the House Ways and Means Committee and the Senate Finance Committee will take the ‘simple actions’ necessary. I am not exaggerating when I say if you do not, our country runs the risk of losing its hegemony and those of you who are in power will have only yourselves to blame,” Icahn wrote.
Paul Ryan willing to be Speaker of the House

Paul Ryan willing to be Speaker of the House

Icahn — whose net worth is $21.6 billion, according to Forbes — has endorsed Republican presidential candidate Donald Trump, who has repeatedly mentioned him as a potential Treasury secretary, a lead negotiator of trade deals with China and Japan, or both.

“I think at this moment in time, he’s the only candidate that speaks out about the country’s problems,” Icahn said of Trump in September.