The heads of 13 rail unions and the nation’s largest freight rail carriers reached a tentative agreement this morning, potentially avoiding a national rail strike
The heads of 13 rail unions and the nation’s largest freight rail carriers reached a tentative agreement early Thursday morning, less than 24 hours before workers would have gained the ability to walk off the job.
“The economic impacts could have been significant,” a White House official said of the intercession by Biden. “The agreement is also a victory for railway companies who will be able to retain and recruit more workers for an industry that will continue to be part of the backbone of the American economy for decades to come,” he added in a statement.It’s a close call for the nation’s economy — and, should workers vote to ratify, a major win for a Biden White House that would have been hard-hit by the likely disastrous fallout.
“A strike that shuts down our railways will have cascading effects across the country,” said Joshua Bolten, Business Roundtable CEO and former White House chief of staff. “We’ve been experiencing a lot of headwinds from supply chain problems since the pandemic started, and those problems would be geometrically magnified by a rail strike.”Unions and carriers ate lunch and dinner Wednesday at DOL’s headquarters in Washington, D.C.
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