Icahn Declines To Join Trump Economic Team, Mulls Second Super PAC
Billionaire investor Carl Icahn turned down an invitation to join Republican presidential candidate Donald Trump's economic advisory council because Icahn is considering funding a Super PAC focused on regulatory reform, Icahn's general counsel told Reuters on Friday.
This would be his second Super PAC. Technically known as independent expenditure-only committees, Super PACs may raise unlimited sums of money from corporations, unions, associations and individuals, then spend unlimited sums to advocate for or against political candidates.
The first Super PAC Icahn formed had an initial commitment of $150 million and was targeted at "tax inversions," which occur when a company moves its headquarters outside the United States to take advantage of lower tax rates elsewhere.
"Mr. Icahn declined the opportunity to join the Trump economic advisory council because at this time, we're still considering whether to fund and manage our own Super PAC focused on regulatory reform," Jesse Lynn, general counsel to Icahn, said by telephone.
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http://www.reuters.com/article/us-usa-election-trump-icahn-idUSKCN10G1W0