Disney has cancelled its plans to expand its operations in Orlando, Florida, citing "changing business conditions" as the reason. The expansion would have included a new employee campus in Lake Nona and the relocation of the company's Imagineering team, and was estimated to cost $1 billion and relocate more than 2,000 California-based employees. Tensions between Disney and Florida Governor Ron DeSantis have been escalating, and with the return of CEO Bob Iger, Disney has decided to abandon the plans and keep its employees in California.
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JPMorgan Chase CEO Jamie Dimon is still due to be deposed in the lawsuit, which seeks damages for the victims of Epstein’s sex trafficking.
President Joe Biden and Rep. Glenn Thompson (R-Pa.) recently met to discuss the debt ceiling and federal spending, with Thompson proposing adding and tightening work requirements for those who receive entitlements and benefits. Democrats are pushing for "clean" legislation, while Republicans are holding out for spending cuts and other provisions. Negotiations are ongoing and the outcome is yet to be seen.
President Joe Biden expressed confidence Wednesday that a deal will be reached to raise the nation's debt ceiling before the deadline, cutting his trip to Japan short to address the issue. He said talks with congressional leaders have been "civil and respectful," and that he will not accept anything that would "undermine the core values of the country." All parties have come to the table in good faith, and Biden believes an agreement can be reached because "there is no alternative."
President Joe Biden and congressional leaders met at the White House on Tuesday to discuss the debt ceiling and the potential for a default. Negotiations between the White House and House GOP aides are building on "direct and productive" discussions from the week prior. If the debt ceiling is not raised, the government will be unable to borrow more money and will default on its debt, potentially leading to a recession.
House Republicans passed a debt ceiling bill last month that would expand work requirements for some federal aid programs, such as Medicaid and SNAP. Democrats have expressed opposition to the bill, while President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) are currently in negotiations to raise the debt ceiling before the June 1 deadline. Advocacy groups have expressed concern that the proposed work requirements would disproportionately affect people of color and those with disabilities, and the outcome of the negotiations will have a significant impact on the future of federal aid programs.
Taco Bell has declared a mission to liberate "Taco Tuesday" and has filed a petition with the U.S. Patent and Trademark Office to cancel the trademark currently owned by Taco John's. The company is arguing that the phrase should be freely available to all who make, sell, eat and celebrate tacos. Taco Bell is not seeking any financial compensation from Taco John's, but rather to ensure that the phrase is available to all. The U.S. Patent and Trademark Office will now review the petition and make a decision on the trademark.
The IRS and Treasury Department have announced a pilot program to allow some taxpayers to electronically file and pay their taxes directly to the IRS, set to launch in early 2024. The program is a result of the Inflation Reduction Act of last year and could mark a major change in the way U.S. taxpayers deal with the revenue service. The IRS has built a prototype system and will invite some taxpayers to test it out next year, with the goal of making the filing process easier and more efficient.