Carl Icahn has a new activist target—Washington.
The man best known for battling some of America's biggest companies is now taking his fight to the nation's capital. In a letter, released Wednesday and sent to several leading members of Congress, the billionaire investor says he's forming a super PAC and pledging $150 million of his own money to push for corporate tax reform.
Icahn said he's targeting "inversions" which occur when a company changes its domicile, often outside the United States, to take advantage of lower tax rates elsewhere.
"I believe my own commitment of $150 million to the PAC will be more than enough to make voters fully aware of the horrible consequences that will ensue if Congress fails to pass legislation immediately to stop these 'inversions,'" Icahn said.
On CNBC's "Fast Money: Halftime Report," Icahn noted he believed change could come through congressional legislation. He did not say specifically how he would use the money to urge that change, other than to hold Congress "accountable."
"The political arena today is completely dysfunctional," Icahn said.