On Friday, 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.
"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. "FEC (Federal Election Commission) rules would limit that activity if Mr. Icahn were to become directly involved in the campaign by joining the council."
Trump announced his economic advisory team on Friday, and said he would release his plan to boost the U.S. economy in a speech on Monday.
Trump has floated Icahn's name for U.S. Treasury secretary if he was elected president. Icahn, 80, has repeatedly rejected the notion of accepting such an offer. Last year, Icahn said: "I am flattered but do not get up early enough in the morning to accept this opportunity."
Last October, Icahn said he was forming a Super PAC with an initial commitment of $150 million, representing the biggest one-time injection of money in the history of such political action committees.