WASHINGTON (AP) — Rail companies and their workers reached a tentative agreement to avert a nationwide strike that could have shut down the nation’s freight trains and devastated the economy less than two months before the midterm elections.
President Joe Biden announced the deal Thursday. It emerged from a marathon 20-hour negotiating session at the Labor Department and came just one day before the threatened walkout.
The deal includes a 24% pay raise and relaxes strict railroad attendance policies.
It will go to union members for a vote after a cooling-off period of several weeks.