President Biden calls the agreement to avert national rail strike is a 'win for America'
In a statement, Mr. Biden said the"tentative agreement" between the railroads and rail workers' unions was"an important win for our economy and the American people" and"a win for tens of thousands of rail workers who worked tirelessly through the pandemic to ensure that America's families and communities got deliveries of what have kept us going during these difficult years.
"This agreement is a big win for America and for both, in my view," he said during his Rose Garden speech, adding that the tentative labor deal is"validation of what I've always believed: Union and management can work together." Workers will get an immediate 14% raise, with a total raise of 24% over the course of the five-year deal, the unions said. They will also get annual bonuses of $5,000 and keep their health care copays and deductibles unchanged.
A source familiar with the labor talks told CBS News that the negotiating parties had agreed to a"post-ratification cooling off period" of several weeks, to make sure that there isn't an immediate rail shutdown if a vote doesn't succeed for any reason. In light of the agreement announced on Thursday morning, Amtrak said it was"working to quickly restore" the cancelled trains"and reaching out to impacted customers to accommodate on first available departures."
It was the Association of American Railroads that had warned halting freight trains could cost the U.S. economy more than $2 billion per day. If a shutdown were to last more than a few days, the impact would likely be felt by millions of consumers, as it would disrupt shipping of virtually all retail products, coal, other fuels and manufacturing components.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Railroads say they won't lock out workers as negotiators meet with Labor Secretary WalshRailroads said they won't lock out workers, and negotiators met with Labor Secretary Marty Walsh, as a deadline to avert a strike rapidly approached
Read more »
Amtrak Nixes All Long-Distance Trains as Rail Strike LoomsFor the first time in 30 years, Amtrak moved to cancel all long-distance passenger trains scheduled for Thursday. The announcement is not expected to affect Amtrak’s heavily-patronized Northeast Corridor.
Read more »
Biden announces 'tentative agreement' to avert national rail strikeLabor Secretary Marty Walsh says the deal 'balances the needs of workers, businesses, and our nation's economy.'
Read more »
Biden announces deal to avert rail strike that threatened huge disruptionA disruption to the rail system would have had 'catastrophic impacts on industries, travelers and families across the country,' Secretary of Labor Marty Walsh said.
Read more »
Biden: Tentative railway labor deal reached, averting strikePresident Joe Biden said Thursday that a tentative railway labor agreement has been reached, averting a strike that could have been devastating to the economy before the pivotal midterm elections. Railroads and union representatives had been in negotiations for 20 hours at the Labor Department on Wednesday to hammer out a deal, as there was a risk of a strike starting on Friday that could have shut down rail lines across the country. Biden made a key phone call to Labor Secretary Marty Walsh at 9 p.m. as the talks were ongoing after Italian dinner had been brought in, according to a White House official who spoke to The Associated Press on the condition of anonymity to discuss closed negotiations.
Read more »