WASHINGTON - President Joe Biden signed legislation on Friday to block a national US railroad strike that could have devastated the American economy.impose a tentative contract deal reached in September on a dozen unions
“It was tough for me but it was the right thing to do at the moment – save jobs, to protect millions of working families from harm and disruption and to keep supply chains stable around the holidays,” Mr Biden said, adding the deal avoided “an economic catastrophe.” A rail strike could have frozen almost 30 per cent of US cargo shipments by weight, stoked already surging inflation, cost the American economy as much as US$2 billion a day, and stranded millions of rail passengers.
Congress invoked its sweeping powers to block strikes involving transportation - authority it does not have in other labour disputes.More On This TopicThe contract that will take effect with Mr Biden’s signature includes a 24 per cent compounded pay increase over five years and five annual US$1,000 lump-sum payments.
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