Richmond, Va. (Newsradiowrva.com) - Gov. Glenn Youngkin indicated Tuesday that he’s unlikely to support pending legislation to boost Virginia’s minimum wage to $13.50 per hour next year and $15 per hour by 2026. Youngkin said it’s his belief that market forces do a better job of determining hourly pay rates.
“I don’t think that you need to send a bill because the market is handling it,” Youngkin told a group of reporters. “And they should allow small businesses to handle this.”
A bill that would increase the minimum wage was passed Jan. 18 by the House Labor and Commerce Committee. The vote came after the Virginia General Assembly approved an increase in 2020 that brought the state’s minimum wage up to $12/hour in 2023.
Youngkin said Tuesday that he doesn’t believe an increase is necessary.
“If you go around and see what people are paying around the commonwealth of Virginia, there are very rare circumstances where people are paying minimum wage. And yet here we are with lots of economic counsel that says that it harms job growth,” Youngkin said. “So the market is working. Virginians are earning lots of money. We’ve now gotten our labor participation rate back up to where it was before the pandemic, and now we’re at a 12-year high.”
