Today, Governor Youngkin vetoed Senate Bill 1 and House Bill 1, which would have raised Virginia’s hourly minimum wage to $15 by 2026. Although Virginia’s economy has recovered strongly from the pandemic, surpassing pre-pandemic employment levels, not all regions of the Commonwealth have experienced equal economic growth. Raising the hourly minimum wage to $15 would have led to shuttered businesses and lost jobs, particularly in the areas most in need of strong economic growth and particularly for Virginia’s small businesses.

The Governor’s action to veto this wage increase helps to protect Virginia’s overall economic competitiveness and business climate. The Virginia Chamber of Commerce continues to support and advocate for policies which encourage quality education and the obtainment of workforce training skills leading to in-demand jobs. Such policies will allow all Virginians to earn higher wages, advance in their careers, and have long-term success.

Click here to view the Governor’s full statement: https://www.governor.virginia.gov/media/governorvirginiagov/governor-of-virginia/pdf/Veto.pdf

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About the Virginia Chamber of Commerce:

The Virginia Chamber of Commerce is the largest business advocacy organization in the Commonwealth, with more than 30,000 members. The Chamber is a non-partisan, business advocacy organization that works in the legislative, regulatory, and political arenas to act as the catalyst for positive change in all areas of economic development and competitiveness for Virginia. Learn more at https://vachamber.com/.