Return on Investment

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Savings for Virginia Business


Check 1=APPROVED     Check 2 =DEFEATED

The Virginia Chamber’s public policy team actively advocates on behalf of our members for initiatives that will help move Virginia forward, and stands up against legislation that will harm Virginia’s business climate. As a result of this advocacy, the following savings to Virginia businesses have been recognized:

Minimum Wage Increases
HB 536/SB 590 (2014), HB 32 (2014), HB 1512 (2015), SB 681 (2015), HB 597 (2016), SB 129 (2016)

Check 2

$9.6 billion
Unemployment Insurance Reform
SB 775/SB 776 (2013)
Check 1 $1.4 billion
Comprehensive Transportation Funding Package
HB 2313 (2013)
Check 1 $880 million
Employer Mandates
HB 2008/ SB1407 (2013), HB 1729/SB 816 (2013), SB 866 (2013), SB 867 (2013), HB 833 (2014), HB 7 (2016), SB 274 (2016), HB 984 (2016), HB 999 (2016)
Check 2 $3 billion
Increases to Corporate Income Tax
HB 1267 (2012), HB 1030 (2012)
Check 2 $133 million
Increases to Employers’ Unemployment Insurance
Budget Bill 
(2012-2014), HB 1382 (2015), HB 411 (2016)
Check 2 $31 million
Economic and Investment Incentives
HB 585/SB 344 (2012), HB 551/SB 238 (2012), HB 1500 (2013), HB 1923 (2013), HB 1220/SB 623 (2014), HB 1360/SB 763 (2015), HB 834/SB 449 (2016)
Check 1 $36 million
Increased Taxes
HB 1762/SB 1210 (2015)
Check 2 $6 million
Workforce Training
HB 66/SB 576 (2016)
Check 1 $12.5 million
TOTAL SAVINGS (2012-2016) $15 billion

Other Savings of Note

Exposure to Costly Litigation
UP TO $75,000 PER LAWSUIT
HB 1729/SB 816 (2013), SB 789 (2013), HB 1434 (2013), HB 2089 (2015)

Check 2

Increase Punitive Damages Cap
UP TO $750,000 PER CASE
HB 1552 (2013), HB 2360 (2015), SB 111 (2016)

Check 2

Corporate Income Tax Changes
UP TO $500,000 FOR CERTAIN EMPLOYEES
SB 1036 (2013)
Check 2
Tort Reform
HB 1708 (2013), HB1618/SB 1337 (2013), HB 1709/SB 903 (2013), HB 2004 (2013)
Check 1
Withheld Interest on Local Tax Refunds
HB 92 (2016), HB 469 (2016), HB 1144 (2016)
Check 2

Average Annual Savings for Virginia Companies

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