Biden: 'I am confident' crippling nationwide rail strike will be avoided
Biden tells reporters as he meets with congressional leaders, 'The economy is at risk'
Biden: 'I am confident' that crippling nationwide rail strike will be avoided
President Biden met with congressional leaders Tuesday and said he is "confident" a rail strike can be avoided.
President Biden on Tuesday expressed confidence that a dispute between unions and the nation's freight railroads will be resolved before a nationwide railroad strike that could cripple the economy just before Christmas.
The president spoke briefly to reporters before a meeting with Congressional leaders to discuss upcoming legislative priorities for the lame duck session of Congress. He remarked that the looming strike must be a top priority for lawmakers.
"Congress, I think, has to act to prevent it," Biden said. "It's not an easy call, but I think we have to do it. The economy is at risk."
Asked if he was confident a rail strike would be avoided, Biden replied, "I am confident."
IF TRAIN STRIKE HAPPENS, MAJOR RAIL UNION WILL HONOR PICKET LINES, ITS LEADER SAYS
President Biden meets with congressional leaders in the Roosevelt Room of the White House in Washington, D.C., Tuesday, Nov. 29, 2022. (Yuri Gripas/Abaca/Bloomberg via Getty Images / Getty Images)
A rail employee works a Union Pacific Intermodal Terminal rail yard on Nov. 21, 2022, in Los Angeles. (Mario Tama/Getty Images / Getty Images)
Business groups from across the U.S. on Monday called for Congress to take "immediate" action to avoid a strike. A coalition of 449 organizations led by the U.S. Chamber of Commerce said lawmakers must act before the Dec. 9 strike deadline to prevent any work stoppage, which could cost the economy an estimated $2 billion per day and exacerbate inflation.
In September, the Biden administration brokered a tentative agreement between railroad companies and the unions threatening a strike. The agreement would provide rail workers a 24% wage increase during the five-year period from 2020 through 2024, with thousands of dollars in sign-on bonuses. But union rail workers opposed to the deal are unhappy that it does not do more to address quality-of-life issues, particularly a lack of sick time and working on skeleton crews.
ANOTHER RAIL UNION REJECTS DEAL, ESCALATING STRIKE THREAT AHEAD OF HOLIDAYS
Freight rail cars loaded with lumber sit on tracks at the Port of Los Angeles on Nov. 22, 2022, in Los Angeles. (Mario Tama/Getty Images / Getty Images)
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The rank-and-file members of four unions voted against Biden's proposal and are holding out to see if a new deal that addresses those quality-of-life issues can be reached. All 12 unions involved in negotiations must ratify their new agreements to avert a potential work stoppage.
FOX Business' Breck Dumas contributed to this report.