President Joe Biden Speech Today on the Railway Labor Agreement at the White House

Photo credit: Gage Skidmore/CC BY-SA 2.0, via Flickr

Tentative railway labor agreement reached, President Joe Biden says.

A possible rail strike has been averted after rail companies and union negotiators worked together for more than 20 hours to reach a tentative agreement, according to President Biden.

We just got word shortly after 4 a.m. about that tentative deal; again, it is a tentative deal. The unions still have to vote on it. But here's the good news: the president and the secretary of labor say we are going to avoid that strike and we're going to avoid the economic consequences that would have come as a result.

And I bring up the economic consequences because I know most of our viewers at home are probably thinking about it. Well, most of us don't commute on trains, but I want everyone to think about this. Almost everything that comes to DFW, our food, our goods, all gets here on trains. meaning a strike, you would have really felt it. So I want to break this down for you. DFW is the largest major metro area without a water port, so we're talking about everything we eat, everything we use, it comes to us on a train, chicken, toilet paper, beer, and this would have had a major impact, especially here in Texas.

Texas also has the most real employees and rail shipments. If we had seen this strike, economic experts across the country were all sounding an alarm, saying, "We don't know exactly how bad these economic implications will be, but there will be consequences." If we had seen this strike, we would have seen it just after 11 p.m. eastern time. Fort Worth rail workers were scheduled to start striking at this railway again.

Right now, the good news is that President Joe Biden and the labor secretary say we are going to avoid that, at least for now, and just to reiterate, this is a tentative deal. Those unions still have to vote on that agreement. I think people don't realize there are so many arms to this whole situation 40 of our fertilizer in the US is on a rail car at some point, so farmers have to put that down after harvest, and the delay in that well could cause higher food prices.

Watch President Biden Delivers Remarks on the Railway Labor Agreement at The White House.

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