**FLASH: DeSantis Destroys the Last Sacred Cow — Forces Disney to Pay $2B in Back Taxes, Strips Special District Charter**

FLASH: DeSantis Destroys the Last Sacred Cow — Forces Disney to Pay $2B in Back Taxes, Strips Special District Charter

The Take: In a move that kills any talk of a 2028 “retreat,” Governor Ron DeSantis today signed executive orders revoking the Reedy Creek Improvement District’s tax exemptions and seizing $2.1 billion in unpaid infrastructure surcharges. He also terminated the district’s 30-year charter, forcing Disney to negotiate all new permits under standard Florida local government regulations.

Why It Matters: This isn’t a culture war win. It’s a structural business loss for the Mouse. The move immediately adds $700 million annually to Disney’s operating costs in Florida—more than the revenue lost from the state’s new parental rights laws. DeSantis has turned a political liability (the Disney feud) into a fiscal weapon, proving he can hurt a $200B company’s bottom line faster than any competitor can cut a tax deal.

CEO Play: Expect Disney to launch an immediate federal lawsuit under the Contracts Clause (Article I, Section 10) and the Takings Clause (Fifth Amendment). The real risk for every Fortune 500 company with a special district in Florida: DeSantis just signaled that no corporate tax shelter is safe when the governor wants a headline. Hedge accordingly.