November 30, 2022 2:00am EST
US rail critical to economy as strike looms
Rail work stoppage would be catastrophic
By Breck Dumas FOXBusiness
Congress is under the gun to pass legislation ending the threat of a nationwide rail strike. Time is running out. A walkout could happen as early as next week, with damaging disruptions to the supply chain set to begin in days.
As lawmakers ready their arguments for or against intervening in the stalled labor negotiations between the major freight railroads and four hold-out unions, one thing that is not up for debate is whether the economy would be crippled if the trains stop running.
President Joe Biden warned Tuesday that if rail work stoppage occurs, up to 765,000 Americans "could be put out of work in the first two weeks alone."
The Association of American Railroads, which represents giant carriers including BNSF, CSX, Norfolk Southern and Union Pacific, estimates a rail shutdown would cost the U.S. economy $2 billion a day — and every American would feel it.
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https://www.foxbusiness.com/economy/us-rail-critical-to-economy-as-strike-looms
