Icahn declines to join Trump economic team, mulls second Super PAC NEW YORK (Reuters) - 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.  DON’T MISS: Factbox: Trump's economic team Want to build your own Economic Dream Team? Try this machine. Trump looks to right the ship 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.  “FEC (Federal Election Commission) rules would limit that activity if Mr. Icahn were to become directly involved in the campaign by joining the council,” Lynn said.  There was no immediate comment from the Trump campaign.  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.  Lynn did not give any details on what kind of regulatory reforms a new Super PAC may target.  In September, Icahn released a video titled “Danger Ahead,” in which he endorsed Trump for president and criticized the Federal Reserve for creating a new bubble in the corporate bond market.  BEST OF BIZ: Reuters Investigates: Big coal summoned Wall Street and faced a whirlwind Again at highs, stocks to take cues from consumer Breakingviews: Wal-Mart has long unicorn ride in Amazon chase He said the rich paid too little in taxes and called for an end to the loophole that allows private equity firms and some hedge fund managers to pay low tax rates on their investments by classifying them as “carried interest.”  The activist investor has recently been a vocal critic of the dangers of retail investors buying junk bonds, debt sold by highly leveraged companies. Much of this debt is sold to “Mom and Pop” investors via exchange-traded funds, a popular vehicle for trading baskets of bonds and stocks.  In October, Icahn announced his first Super PAC, which was the biggest one-time injection of money in the history of such political action committees. Icahn said the incentive for companies to leave the United States via inversion deals could be eliminated by legislation allowing big companies to repatriate funds held offshore at a discounted tax rate - an approach also favored by Trump.  A Wall Street veteran, Icahn made his fortune buying stakes in companies such as RJR Nabisco, Texaco, Phillips Petroleum, Lions Gate Entertainment Corp, Netflix Inc, Apple Inc and eBay Inc and pushing their management to change their strategies.  politicsNews
can declines join trump economic team mulls second super pac new york reuters billionaire investor carl can turned invitation join republican presidential candidate donald trump economic advisory council can considering funding super pac focused regulatory reform can general counsel told reuters friday this would second super pac technically known independent committees super pass may raise unlimited sums money corporations unions associations individuals spend unlimited sums advocate political candidates don t miss factor trump economic team want build economic dream team try machine trump looks right ship the first super pac can formed initial commitment million targeted tax inversions occur company moves headquarters outside united states take advantage lower tax rates elsewhere mr can declined opportunity join trump economic advisory council time still considering whether fund manage super pac focused regulatory reform jesse lynn general counsel can said telephone fec federal election commission rules would limit activity can become directly involved campaign joining council lynn said there immediate comment trump campaign trump announced economic advisory team friday said would release plan boost economy speech monday trump floated can name treasury secretary elected president can repeatedly rejected notion accepting offer lynn give details kind regulatory reforms new super pac may target in september can released video titled danger ahead endorsed trump president criticized federal reserve creating new bubble corporate bond market best of biz reuters investigates big coal summoned wall street faced whirlwind again highs stocks take cues consumer breakingnews long unicorn ride amazon chase he said rich paid little taxes called end loophole allows private equity firms hedge fund managers pay low tax rates investments classifying carried the activist investor recently vocal critic dangers retail investors buying junk bonds debt sold highly leveraged companies much debt sold mom pop investors via funds popular vehicle trading baskets bonds stocks in october can announced first super pac biggest injection money history political action committees can said incentive companies leave united states via inversion deals could eliminated legislation allowing big companies repatriated funds held offshore discounted tax rate approach also favored trump a wall street veteran can made fortune buying stakes companies rr nabisco exact phillips petroleum lions gate entertainment corp netflix inc apple inc ebay inc pushing management change strategies politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Icahn declines to join Trump economic team, mulls second Super PAC NEW YORK (Reuters) - 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.  DON’T MISS: Factbox: Trump's economic team Want to build your own Economic Dream Team? Try this machine. Trump looks to right the ship 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.  “FEC (Federal Election Commission) rules would limit that activity if Mr. Icahn were to become directly involved in the campaign by joining the council,” Lynn said.  There was no immediate comment from the Trump campaign.  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.  Lynn did not give any details on what kind of regulatory reforms a new Super PAC may target.  In September, Icahn released a video titled “Danger Ahead,” in which he endorsed Trump for president and criticized the Federal Reserve for creating a new bubble in the corporate bond market.  BEST OF BIZ: Reuters Investigates: Big coal summoned Wall Street and faced a whirlwind Again at highs, stocks to take cues from consumer Breakingviews: Wal-Mart has long unicorn ride in Amazon chase He said the rich paid too little in taxes and called for an end to the loophole that allows private equity firms and some hedge fund managers to pay low tax rates on their investments by classifying them as “carried interest.”  The activist investor has recently been a vocal critic of the dangers of retail investors buying junk bonds, debt sold by highly leveraged companies. Much of this debt is sold to “Mom and Pop” investors via exchange-traded funds, a popular vehicle for trading baskets of bonds and stocks.  In October, Icahn announced his first Super PAC, which was the biggest one-time injection of money in the history of such political action committees. Icahn said the incentive for companies to leave the United States via inversion deals could be eliminated by legislation allowing big companies to repatriate funds held offshore at a discounted tax rate - an approach also favored by Trump.  A Wall Street veteran, Icahn made his fortune buying stakes in companies such as RJR Nabisco, Texaco, Phillips Petroleum, Lions Gate Entertainment Corp, Netflix Inc, Apple Inc and eBay Inc and pushing their management to change their strategies.  politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: can declines join trump economic team mulls second super pac new york reuters billionaire investor carl can turned invitation join republican presidential candidate donald trump economic advisory council can considering funding super pac focused regulatory reform can general counsel told reuters friday this would second super pac technically known independent committees super pass may raise unlimited sums money corporations unions associations individuals spend unlimited sums advocate political candidates don t miss factor trump economic team want build economic dream team try machine trump looks right ship the first super pac can formed initial commitment million targeted tax inversions occur company moves headquarters outside united states take advantage lower tax rates elsewhere mr can declined opportunity join trump economic advisory council time still considering whether fund manage super pac focused regulatory reform jesse lynn general counsel can said telephone fec federal election commission rules would limit activity can become directly involved campaign joining council lynn said there immediate comment trump campaign trump announced economic advisory team friday said would release plan boost economy speech monday trump floated can name treasury secretary elected president can repeatedly rejected notion accepting offer lynn give details kind regulatory reforms new super pac may target in september can released video titled danger ahead endorsed trump president criticized federal reserve creating new bubble corporate bond market best of biz reuters investigates big coal summoned wall street faced whirlwind again highs stocks take cues consumer breakingnews long unicorn ride amazon chase he said rich paid little taxes called end loophole allows private equity firms hedge fund managers pay low tax rates investments classifying carried the activist investor recently vocal critic dangers retail investors buying junk bonds debt sold highly leveraged companies much debt sold mom pop investors via funds popular vehicle trading baskets bonds stocks in october can announced first super pac biggest injection money history political action committees can said incentive companies leave united states via inversion deals could eliminated legislation allowing big companies repatriated funds held offshore discounted tax rate approach also favored trump a wall street veteran can made fortune buying stakes companies rr nabisco exact phillips petroleum lions gate entertainment corp netflix inc apple inc ebay inc pushing management change strategies politicsnews