“A rail shutdown would devastate our economy. Without freight rail, many US industries would shut down. My economic advisors report that as many as 765,000 Americans—many union workers themselves—could be put out of work in the first two weeks alone,” President Biden said in a statement released by the White House. “The deal provides a historic 24 per cent pay raise for rail workers. It provides improved health care benefits. And it provides the ability of operating craft workers to take unscheduled leave for medical needs.”
“A rail strike, coupled with historically high levels of inflation, could wreak financial havoc and inflict catastrophic harm to American businesses, workers, consumers and the US economy. We are in peak holiday shopping season, and it is essential that retailers and other businesses are able to rely on these vital supply chain partners. Retailers echo President Biden’s call for Congress to take immediate action to avert a rail strike and implement the tentative agreement brokered between the labour unions and freight railroads earlier this year,” Matthew Shay, president and CEO of National Retail Federation (NRF), said in a press release issued by the NRF.
This week, the NRF relaunched a grassroots campaign to encourage Congress to quickly pass legislation in advance of a strike and ensure continued operations.
Fibre2Fashion News Desk (NB)