Donald Trump’s Billionaire friend is starting a super PAC to take on Congress!
Trump and Carl are tired like so many American watching Congress do nothing.
Billionaire Carl Icahn has made a lot of money by forcing corporate CEOs to quit and replacing them with better managers. Now he wants to do the same to Congress.
Icahn just announced he’s using some of his substantial fortune to form a PAC (political action committee). It will have one goal: To force Congress to get its act together — or else.
“I am starting a Super PAC with my initial commitment of $150 million to help end the crippling dysfunction in Congress,” the influential 79-year-old hedge fund manager tweeted Wednesday morning.
Icahn is one of Donald Trump’s biggest supporters.
Trump has said repeatedly that he wants “his friend” Icahn to be his Treasury Secretary if he’s elected president.
In addition to starting a PAC, Icahn sent a letter to Congress this week demanding that it act to stop U.S. companies from leaving the country. Companies have been moving overseas so they can pay lower taxes.
In the letter, he pushes for major corporate tax reform. It should begin with a tax holiday that will allow companies like Apple (, Tech30) to bring the $2.2 trillion they are holding oversees back to the U.S. at a very low tax rate — no more than 8%. That money can be used to invest and create jobs here.
Icahn told CNN’s Poppy Harlow that he has already heard from an “outpouring” of senators and congressmen who support his proposal, including Senator Minority Leader Harry Reid.
Reid’s office did not respond to requests for comment.
“The whole thing is really an absurdity. It’s something out of Alice in Wonderland,” Icahn said on CNN’s Quest Means Business. “You can’t really understand why anyone is against doing this in the government.”
Much like Trump, Icahn touts his more than 40 years in business and his skill as a good negotiator. He says it’s clear Congress, including right-wing Republicans, need to learn to make a deal.
Icahn warns the U.S. economy is very fragile (Next Page)