When Carl Icahn takes his corporate tax reform fight to Washington, he'll join top American companies already funneling money into changing the way the U.S. handles corporate profits.
The billionaire activist investor announced Wednesday he would commit $150 million to a super PAC to prompt legislative reform on tax "inversions," or when a company changes its domicile to receive lower rates elsewhere. He proposes a lower "double tax" on cash brought back into the U.S. by American firms to discourage them from keeping money abroad or leaving altogether.
On Wednesday, Icahn told CNBC he would use the funds to hold a "dysfunctional" Congress "accountable." While he didn't detail specifically how his money would spark reforms, it's another large cash injection into an issue companies continue to put their weight behind.