Biden Caves in Backroom Deal – He’s Giving Them What They Want!
(DailyVantage.com) – For the past few weeks, the prospect of a rail strike was a genuine possibility. If it had taken place, the effects could’ve been devastating to the already fragile American economy. The Biden administration has been brokering between the rail transport companies and unions, and they appear to have reached a tentative deal.
On Thursday, September 15, President Joe Biden announced rail companies and unions reached a tentative agreement in the dispute. He thanked both sides for working together to avoid disruptions. In his speech, Biden thanked his labor secretary, Martin Walsh, for “his tireless, around-the-clock efforts.”
— The Hill (@thehill) September 15, 2022
Union members must vote on the tentative deal to make the proposal official. Even if workers don’t agree to the proposed terms, the step will still postpone a strike for several weeks, per the negotiations.
If the current agreement on the table goes through, union members will see an immediate 14% pay raise back-dated to 2020 and an overall 24% increase in pay through 2024. Additionally, workers will each receive $1000 per year cash bonuses for the life of the five-year contract. Based on these policies, most workers will see lump sum payments averaging $11,000. This concession will cost the rail companies around $660 million.
Other aspects of the agreement centered on working conditions and healthcare costs, but the details weren’t immediately available.
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