WASHINGTON, Dec 2 (Reuters) - President Joe Biden signed legislation Friday to block a national U.S. railroad strike that could have devastated the American economy.
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WASHINGTON — President Biden signed legislation on Friday to impose a labor agreement between rail companies and workers who had been locked in a bitter dispute, averting a strike that could have upended the economy just before the holiday season.
Statement from President Joe Biden on Averting a Rail Shutdown. I am calling on Congress to pass legislation immediately to adopt the Tentative Agreement between railroad workers and operators – without any modifications or delay – to avert a potentially crippling national rail shutdown.
What is the rail strike about? Rail union leaders and carriers agreed to a tentative deal in September that included pay raises for members. But many union workers voted against the deal, in part because they have been pushing for paid sick days, which they currently do not receive.
That's in part because of the pandemic, but also because the major railroads have for years been making major staffing cuts that have forced employees to take on more work. Over the last six years, Class 1 railroads have cut their workforce by 29%, of 45,000 employees, according to Congressional testimony by Oberman.
The simple answer: your Amtrak trip won't be affected by the government shutdown. As we've seen during previous government shutdowns, Amtrak has enough cash on hand to keep the trains running and workers paid in the near term.
House passes bill to avoid a railroad strike : NPR. House passes bill to avoid a railroad strike The House cleared an effort that would force unions to accept the tentative agreement between railroad managers and their workers, and make a potential imminent strike illegal.
The infrastructure that was transferred to Amtrak's management was also aging rapidly and required repairs. However, perhaps the biggest issue of all was that under the Rail Passenger Service Act, Amtrak did not gain ownership of the majority of the railroad tracks that their trains ran on.
CLIMATEWIRE | The first U.S.-made high-speed bullet trains will start running as early as 2024 between Boston, New York and Washington, with the promise of cutting transportation emissions by attracting new rail passengers who now drive or fly.
Monopolies as unfairly subsidizedRailroads had the ability to condemn land to build their routes. They got subsidies of land, loans, bonds and other financial aid from federal, state and local governments. Their political contributions and favors secured them supporters in legislatures, Congress and the courts.
Amtrak's Acela, which reaches 150 mph (240 km/h) over 49.9 mi (80.3 km) of track and Brightline, which runs at 125 mph (201 km/h) in a dedicated ROW between Orlando and Cocoa, are the US's only high-speed rail services.
The rail workers wanted seven annual paid sick days, which would cost the railroads an estimated $321 million annually–less than 2% of their annual profit. But the railroads balked at this demand, despite posting record profits of $21.2 billion in the first three quarters of 2022 alone.
For the year, the company's net income rose to a record $7 billion, up about $500 million, or 7%, from the previous record profit it posted for 2021. While overall operating expenses for 2022 rose $2.5 billion, that was outweighed by revenue rising $3 billion to a record $24.9 billion for the year.