Business
Disney faces losing control of its kingdom with Florida bill
By Mike Schneider in Orlando
ORLANDO, Fla. (AP) — Disney’s government in Florida has been the envy of any private business, with its unprecedented powers in deciding what to build and how to build it at the Walt Disney World Resort, issuing bonds and holding the ability to build its own nuclear plant if it wanted.
Those days are numbered as a new bill released this week puts the entertainment giant’s district firmly in the control of Florida’s governor and legislative leaders in what some see as punishment for Disney’s opposition to the so-called “Don’t Say Gay” lawchampioned by Republican Gov. Ron DeSantis and the Republican-controlled Legislature.
“Disney won’t like it because they’re not in control,” said Richard Foglesong, professor emeritus at Rollins College, who wrote a definitive account of Disney’s Reedy Creek Improvement Districtin his book, “Married to the Mouse: Walt Disney World and Orlando.”
With that loss of control comes an uncertainty about how Disney’s revamped government and Walt Disney World, which it governs, will work together — whether the left hand always will be in sync with the right hand as it has been with the company overseeing both entities.
The uniqueness of Disney’ government, where building inspectors examine black box structures holding thrill rides instead of office buildings, also complicates matters. The district essentially runs a midsize city. On any given day, as many as 350,000 people are on Disney World’s 27,000 acres (11,000 hectares) as theme park visitors, overnight hotel guests or employees. The 55-year-old district has to manage the traffic, dispose of the waste and control the plentiful mosquitoes.
“What kind of control is preferable? Control by a private business or corporation, or control by appointed officials, appointed by governor of the state?” Foglesong said. “Will they have the expertise to be able to make the new district work as efficiently as the old district works?”
The bill prohibits anybody who has worked or had a contract with a theme park or entertainment complex in the past three years, or their relatives, from serving on the revamped district’s board of supervisors, a prohibition that some experts say eliminates people with expertise in the field.
The bill’s sponsor, Florida Rep. Fred Hawkins, a Republican from St. Cloud, defended the exclusion Tuesday.
“This was a provision I requested,” Hawkins said. “We want to try to avoid any conflicts of interest of the new board members.”
Under the bill’s proposals, Florida’s governor appoints the five-member board of supervisors to the renamed Central Florida Tourism Oversight District instead of Disney. Limits would be placed on the district’s autonomy by making it subject to oversight and regulation by state agencies, and it would be unable to adopt any codes that conflict with state regulations. The district also would no longer have the ability, if it wanted, to own and operate an airport, stadium, convention center or nuclear power plant.
DeSantis started gunning for Disney’s private government last year when the entertainment giant publicly opposed what critics call the “Don’t Say Gay” law, which bars instruction on sexual orientation, gender identity and other lessons deemed not age-appropriate in kindergarten through third grade. Republican critics of the Disney district also argued it has given the company an unfair advantage over rivals in issuing bonds and financing expansion.
The Legislature passed a bill last year to dissolve the Disney government by June 2023.
Lawmakers are meeting this week for a special session to complete the state takeover of the district and approve other key conservative priorities of the governor on immigration and voter fraud. A Senate committee approved separate bills Tuesday to expand the governor’s migrant relocation program and allow the statewide prosecutor to bring election crime charges.
Florida Rep. Anna Eskamani, a Democrat from Orlando, calledthe Disney bill on Monday a “power grab” by DeSantis, a potential 2024 presidential candidate who has emerged as a fierce opponent of what he describes as “woke” policies on race, gender and public health. Such positions endear him to the GOP’s conservative base but threaten to alienate independents and moderate voters in both parties who are influential in presidential politics.
The changes proposed in the legislation were welcomed by at least one group of Reedy Creek employees — firefighters who have clashed in the past with district leaders. Tim Stromsnes, a spokesperson for Reedy Creek Professional Firefighters Local 2117, said all the current board cares about is “bonds and low-interest loans for building Disney infrastructure, and zero about treating its employees fairly.”
“We think they are going to be more receptive to first responders,” Stomsnes said Tuesday of the proposed new board. “They’re calling the governor a fascist for doing this … but he is actually fixing a fascist, Disney-owned government.”
To the relief of taxpayers in neighboring Orange and Osceola counties, the district won’t be dissolved, a prospect that had raised fears that the counties would have to absorb the district’s responsibilities and raise property taxes significantly. The Reedy Creek Improvement District has more than $1 billion in bond debt.
In a statement, Orange County said officials were monitoring the bill.
The new bill appears to address some key questions raised by last year’s legislation, primarily preserving the district’s ability to raise revenue and service outstanding debt, said Michael Rinaldi, head of local government ratings for Fitch Ratings.
Foglesong expects a legal challenge should the bill pass. Disney didn’t respond to an inquiry asking about any potential lawsuits.
“Disney works under a number of different models and jurisdictions around the world, and regardless of the outcome, we remain committed to providing the highest quality experience for the millions of guests who visit each year,” Jeff Vahle, president of Walt Disney World Resort, said in a statement.
Disney could make an argument that their rights as a private business are being undermined, Foglesong said.
“It will have political appeal, the arguments they make, in a Republican state for a potential presidential candidate,” Foglesong said. “It will be like, legally, ‘How can you do this to us?’ and politically, ‘How can you do this to a corporation that has done so much for the state of Florida?'”
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Associated Press writer Anthony Izaguirre in Tallahassee, Florida contributed to this report.
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Follow Mike Schneider on Twitter at @MikeSchneiderAP
Alberta
Alberta fiscal update: second quarter is outstanding, challenges ahead
Alberta maintains a balanced budget while ensuring pressures from population growth are being addressed.
Alberta faces rising risks, including ongoing resource volatility, geopolitical instability and rising pressures at home. With more than 450,000 people moving to Alberta in the last three years, the province has allocated hundreds of millions of dollars to address these pressures and ensure Albertans continue to be supported. Alberta’s government is determined to make every dollar go further with targeted and responsible spending on the priorities of Albertans.
The province is forecasting a $4.6 billion surplus at the end of 2024-25, up from the $2.9 billion first quarter forecast and $355 million from budget, due mainly to higher revenue from personal income taxes and non-renewable resources.
Given the current significant uncertainty in global geopolitics and energy markets, Alberta’s government must continue to make prudent choices to meet its responsibilities, including ongoing bargaining for thousands of public sector workers, fast-tracking school construction, cutting personal income taxes and ensuring Alberta’s surging population has access to high-quality health care, education and other public services.
“These are challenging times, but I believe Alberta is up to the challenge. By being intentional with every dollar, we can boost our prosperity and quality of life now and in the future.”
Midway through 2024-25, the province has stepped up to boost support to Albertans this fiscal year through key investments, including:
- $716 million to Health for physician compensation incentives and to help Alberta Health Services provide services to a growing and aging population.
- $125 million to address enrollment growth pressures in Alberta schools.
- $847 million for disaster and emergency assistance, including:
- $647 million to fight the Jasper wildfires
- $163 million for the Wildfire Disaster Recovery Program
- $5 million to support the municipality of Jasper (half to help with tourism recovery)
- $12 million to match donations to the Canadian Red Cross
- $20 million for emergency evacuation payments to evacuees in communities impacted by wildfires
- $240 million more for Seniors, Community and Social Services to support social support programs.
Looking forward, the province has adjusted its forecast for the price of oil to US$74 per barrel of West Texas Intermediate. It expects to earn more for its crude oil, with a narrowing of the light-heavy differential around US$14 per barrel, higher demand for heavier crude grades and a growing export capacity through the Trans Mountain pipeline. Despite these changes, Alberta still risks running a deficit in the coming fiscal year should oil prices continue to drop below $70 per barrel.
After a 4.4 per cent surge in the 2024 census year, Alberta’s population growth is expected to slow to 2.5 per cent in 2025, lower than the first quarter forecast of 3.2 per cent growth because of reduced immigration and non-permanent residents targets by the federal government.
Revenue
Revenue for 2024-25 is forecast at $77.9 billion, an increase of $4.4 billion from Budget 2024, including:
- $16.6 billion forecast from personal income taxes, up from $15.6 billion at budget.
- $20.3 billion forecast from non-renewable resource revenue, up from $17.3 billion at budget.
Expense
Expense for 2024-25 is forecast at $73.3 billion, an increase of $143 million from Budget 2024.
Surplus cash
After calculations and adjustments, $2.9 billion in surplus cash is forecast.
- $1.4 billion or half will pay debt coming due.
- The other half, or $1.4 billion, will be put into the Alberta Fund, which can be spent on further debt repayment, deposited into the Alberta Heritage Savings Trust Fund and/or spent on one-time initiatives.
Contingency
Of the $2 billion contingency included in Budget 2024, a preliminary allocation of $1.7 billion is forecast.
Alberta Heritage Savings Trust Fund
The Alberta Heritage Savings Trust Fund grew in the second quarter to a market value of $24.3 billion as of Sept. 30, 2024, up from $23.4 billion at the end of the first quarter.
- The fund earned a 3.7 per cent return from July to September with a net investment income of $616 million, up from the 2.1 per cent return during the first quarter.
Debt
Taxpayer-supported debt is forecast at $84 billion as of March 31, 2025, $3.8 billion less than estimated in the budget because the higher surplus has lowered borrowing requirements.
- Debt servicing costs are forecast at $3.2 billion, down $216 million from budget.
Related information
Business
Trump’s government efficiency department plans to cut $500 Billion in unauthorized expenditures, including funding for Planned Parenthood
From LifeSiteNews
Elon Musk and Vivek Ramaswamy shared their plans to ‘take aim’ at ‘500 billion plus’ in federal expenses, including ‘nearly $300 million’ to ‘progressive groups like Planned Parenthood.’
Elon Musk and Vivek Ramaswamy are planning to ax taxpayer funding for Planned Parenthood as part of their forthcoming work for the next Trump administration, they revealed in a Wednesday op-ed in The Wall Street Journal.
The businessmen have been appointed by President Donald Trump to lead a new Department of Government Efficiency (DOGE), which will work from outside the official government structure to cut wasteful government spending and excess regulations, as well as “restructure federal agencies,” as Trump announced last week on Truth Social.
Musk and Ramaswamy shared Wednesday that as part of their work at DOGE to downsize government spending, they will be “taking aim at the $500 billion plus in annual federal expenditures that are unauthorized by Congress or being used in ways that Congress never intended,” thereby “delivering cost savings for taxpayers.”
They specifically called out Planned Parenthood as one institution that will lose taxpayer funding once DOGE kicks into gear. In their op-ed, the duo said the federal expenditures they plan on cutting includes the “nearly $300 million” dedicated “to progressive groups like Planned Parenthood.”
Musk and Ramaswamy also reportedly will take aim at the “$535 million a year to the Corporation for Public Broadcasting and $1.5 billion for grants to international organizations,” according to Catholic Vote, although they have not shared all of the federal spending they plan to cut or reduce.
“With a decisive electoral mandate and a 6-3 conservative majority on the Supreme Court, DOGE has a historic opportunity for structural reductions in the federal government,” the business duo wrote. “We are prepared for the onslaught from entrenched interests in Washington. We expect to prevail.”
Mogul and X owner Musk, who was outspoken before his DOGE appointment about the big problem of waste, noted last week that if the government is not made efficient, the country will go “bankrupt.”
He reposted a clip from a recent talk he gave in which he explained that not only is our defense budget “pretty gigantic” — a trillion dollars —but the interest the U.S. now owes on its debt is higher than this.
“This is not sustainable. That’s why we need the Department of Government Efficiency,” Musk said.
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