White House Announces Deal To Avert Rail Strike

Axios reports:

Rail companies and unions struck a tentative agreement on Thursday to avoid a strike that businesses feared would’ve led to severe supply chain disruptions, the White House said. President Biden, in a pre-dawn statement, called the agreement “an important win for our economy.”

A strike could have driven up prices at a time when inflation is showing signs of remaining stubbornly high. “These rail workers will get better pay, improved working conditions, and peace of mind around their health care costs: all hard-earned,” Biden said.

“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.”

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