Governor Glenn Youngkin has announced a significant achievement in reducing regulatory requirements in Virginia. The Governor’s Office has approved changes that streamline over 26.8% of the regulatory requirements in the Virginia Code, saving citizens more than $1.2 billion annually. This initiative is part of Executive Order 19, which established the Office of Regulatory Management (ORM) to reduce regulations by 25%. The goal has been surpassed with these recent changes.
“Reducing the regulatory burden on Virginians has tremendous impact on the cost of living in our state, and that’s why it has been a top priority throughout my administration,” said Governor Glenn Youngkin. “We did not just meet our goal of reducing the regulatory burden in Virginia by 25%, we exceeded it.”
The Department of Housing and Community Development (DHCD) finalized changes that cut construction costs for new houses by over $24,000, leading to savings for homebuyers totaling over $700 million annually.
“We are not stopping at 25%,” Governor Youngkin stated. “We are on track to reach a 33% reduction in regulatory requirements, which means even greater savings for Virginia families.”
Reeve Bull, Director of the Office of Regulatory Management, highlighted Virginia’s leadership role: “The ‘Virginia Model’ has become the gold standard for regulatory reform nationwide.” Delegate Michael Webert added praise for Youngkin’s efforts: “Thanks to the work of Governor Youngkin, Virginia is now leading the nation in regulatory reform.”
Governor Youngkin made this announcement at 84 Lumber, a company involved in building supplies and services.
