The White House on Thursday morning announced it had reached a “tentative” agreement to avert a national rail strike that threatened the nation’s economy.
President Biden said in a statement that the agreement would guarantee “better pay, improved working conditions, and peace of mind around their health care costs” for the workers.
Negotiators had until Friday at 12:01 a.m. to reach a deal to avoid a major impact to the economy.
A Department of Labor official confirmed that a deal “that balances the needs of workers, businesses, and our nation’s economy” was reached early Thursday morning after 20 consecutive hours of negotiations between rail companies and union negotiators.
“Secretary Walsh and the Biden administration applaud all parties for reaching this hard-fought, mutually beneficial deal,” a labor official said. “Our rail system is integral to our supply chain, and a disruption would have had catastrophic impacts on industries, travelers and families across the country.”