The US Department of Labor says updated regulations will increase income thresholds to ensure lower-income salaried employees are fairly compensated when they work more than 40 hours per week.
MONEY AND JOBS POLITICS
Biden administration bans noncompete clauses for workers
The new rule bans new noncompete agreements for the vast majority of American workers and requires employers to let current and past employees know they won’t enforce them going forward. Companies will also be required to throw out existing noncompete agreements.
VIDEO: How rejecting the minimum wage bill affects Virginians
Did you hear? Yes, it's true. Republican Governor Glenn Youngkin vetoed the minimum wage increase bills (House Bill 1 and Senate Bill 1). The minimum wage bill would have increased wages for over 600,000 workers in Virginia. @vadogwoodnews Did you hear? Yes, it's...
Budget deadlines loom for Youngkin, Democrats
Youngkin and Democrats have fought bitterly over an ill-fated major league sports arena and a slew of Democratic legislative priorities, raising questions over whether both sides can strike a budget compromise before the end of the fiscal year.
VIDEO: Will small businesses really be affected by a minimum wage increase?
Both Senate Bill 1 and House Bill 1 were introduced by Democrats and passed on party-line votes in the House of Delegates and Virginia Senate without any Republican support. Both bills passed out of the other chamber within the last few weeks. Republicans say they...
VA religious leaders urge Youngkin to sign minimum wage increase bill
The legislation would raise Virginia’s minimum wage from the current rate of $12 per hour to $13.50 in 2025 and to $15 in 2026. Gov. Youngkin has until April 8 to either sign, veto, or recommend amendments to the legislation before lawmakers reconvene on April 17.
Virginia Democrats vote to increase minimum wage as Youngkin signals opposition
After winning majorities in both the House of Delegates and state Senate last November, newly empowered Democrats in Virginia’s General Assembly immediately made it clear that raising Virginia’s minimum wage would be a top priority in this year’s legislative session....
Virginia Senate votes to make sales tax holiday permanent
Virginians may soon be able to count on a permanent sales tax holiday for school and emergency preparedness supplies in August of each year. The sales tax holiday first became official in Virginia in 2006, and Democratic legislation to extend the sales tax break was...
Overdraft fees could drop to as low as $3 under new Biden proposal
The change could potentially eliminate billions of dollars in fee revenue for the nation’s biggest banks, which were gearing up for a battle even before Wednesday’s announcement. Exactly how much revenue depends on which version of the new regulation is adopted.
Democrats’ hard-won tax rebates begin to hit Virginians’ wallets
Good news, Virginia: You might be getting some extra cash soon! According to state officials, over $900 million in state tax rebates will go out to Virginia taxpayers in the coming weeks. Individuals who filed their state taxes in 2022 will receive a $200 rebate,...