President Biden early on Thursday released a statement announcing that railroad companies and unions representing their workers had reached an agreement to avoid a nationwide strike that could have had a severe impact on the economy.
“The tentative agreement reached tonight is an important win for our economy and the American people,” Biden said in the statement.
He went on to say that the agreement means, “These rail workers will get better pay, improved working conditions, and peace of mind around their health care costs: all hard-earned. 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.“
The two sides had until 12:01 a.m. Friday to broker a deal and avoid a work stoppage.
The railroad companies and union representatives had negotiated for nearly 20 hours, according to multiple outlets, to broker the tentative deal.
A White House official told the Associated Press that Biden made a key phone call to negotiators on both sides, noting the ripple effects on the economy that a potential work stoppage would do to American families, farmers, and businesses.
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Biden: Tentative agreement reached to avoid national rail strike https://t.co/x3esMuf4Vx pic.twitter.com/f7nXzFlolD
— The Hill (@thehill) September 15, 2022
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