Congress could intervene -- a possibility raised by the House majority leader as it weighs a potential $2 billion a day body blow to the U.S. economy.
Bloomberg WireThe White House urged labor unions and freight-rail operators to come to an agreement in contract talks, with mounting concern that a strike as soon as Friday could damage the U.S. economy and Democrats’ midterm election prospects.
Freight railroads and labor unions worked through the weekend to hammer out a new contract to avoid a strike that could snarl supply chains, disrupt agricultural deliveries and cost the U.S. economy more than $2 billion a day. A work stoppage also could hamper food shipments and would come at a particularly perilous time, said Brooke Appleton, vice president of public policy at the National Corn Growers Association.
The U.S. Chamber of Commerce on Monday urged Congress to take immediate action by implementing the Presidential Emergency Board’s recommendations if the railroads and unions are unable to come to a voluntary agreement.
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