- Apr 3, 2003
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Good news for America:
President Biden announced on Thursday he was able to help broker a tentative rail deal between freight railroads and workers that averted a potential strike.
The agreement, brokered by administration officials, was seen as a major victory as a strike would have wreaked havoc on the nation's rail system and further disrupted supply chains during a period of economic uncertainty.
Here are three things to know about the deal and how it got done:
Under the terms of the five-year deal, which is retroactive to 2020, the Associated Press reported that workers will receive a 24% pay increase and $5,000 in bonuses. Railroads also promised to ease scheduling policies.
The agreement comes as the rail industry has seen profits boom during the pandemic and as rising geopolitical risks, particularly given Russia's war with Ukraine, have put additional strain on U.S. supply chains.
...
Labor Secretary Marty Walsh secured a tangible and substantial policy victory for the Biden administration.
...
The deal nearly didn't happen, Politico reported, and Walsh negotiated around the clock to get it done.
Rail deal: 3 things to know about the agreement that averted a strike
President Biden announced on Thursday he was able to help broker a tentative rail deal between freight railroads and workers that averted a potential strike.
The agreement, brokered by administration officials, was seen as a major victory as a strike would have wreaked havoc on the nation's rail system and further disrupted supply chains during a period of economic uncertainty.
Here are three things to know about the deal and how it got done:
Under the terms of the five-year deal, which is retroactive to 2020, the Associated Press reported that workers will receive a 24% pay increase and $5,000 in bonuses. Railroads also promised to ease scheduling policies.
The agreement comes as the rail industry has seen profits boom during the pandemic and as rising geopolitical risks, particularly given Russia's war with Ukraine, have put additional strain on U.S. supply chains.
...
Labor Secretary Marty Walsh secured a tangible and substantial policy victory for the Biden administration.
...
The deal nearly didn't happen, Politico reported, and Walsh negotiated around the clock to get it done.
Rail deal: 3 things to know about the agreement that averted a strike