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(The Center Square) — Despite Republican Gov. Glenn Youngkin vetoing Democrats’ attempts to raise Virginia’s minimum wage during the last legislative session, minimum wage will still ...
Of the minimum wage increase, he argued the legislation would raise costs on small businesses. ... which would have increase the minimum in Virginia to $13.50 per hour by January 2025 and to $15 ...
Republican Gov. Glenn Youngkin vetoed bills that would have increased the minimum wage in Virginia to $15 per hour by 2026. What's next for wages?
The bills would "implement drastic wage mandates, raise costs on families and small businesses, jeopardize jobs, and fail to recognize regional economic differences across Virginia,” he said in a news release. Virginia Democrats began an effort to increase the minimum wage in 2020.
The Raise the Wage Act of 2017, which was simultaneously introduced in the House of Representatives with 166 Democratic cosponsors, would raise the minimum wage to $9.25 per hour immediately, and then gradually increase it to $15 per hour by 2024, while simultaneously raising the minimum wage for tipped workers and phasing it out. [174]
As for the wage legislation, which would have increased the current $12-per-hour minimum wage to $13.50 on Jan. 1, 2025, and then to $15 on Jan. 1, 2026, Youngkin said the bills would “imperil ...
In the United States workers generally must be paid no less than the statutory minimum wage.As of July 2009, the federal government mandates a nationwide minimum wage level of $7.25 per hour, while some states and municipalities have set minimum wage levels higher than the federal level, with the highest state minimum wage being $9.47 per hour in Washington as of January 1, 2015. [5]
Since the tax is a certain percentage of the price, with increasing price, the tax grows as well. The supply curve shifts upward but the new supply curve is not parallel to the original one. Second, the tax raises the production cost as with the specific tax but the amount of tax varies with price level.