Friday, July 11, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

BREAKING: House Passes Rail Strike Resolution

by James Fite
December 1, 2022
in Business
Reading Time: 3 mins read
A A
0
Home Business
Share on FacebookShare on Twitter


Congress acted, and the looming rail strike seems likely to be averted. In a 290-137 vote, the House of Representatives passed House Joint Resolution 120 Wednesday afternoon, November 30, which forces unions to accept an agreement made earlier in the year between railroad managers and their workers.

The House also passed H. J. Res. 119 with a 221-207 vote. This second resolution would provide seven days of paid sick leave to railroad workers – a measure meant to ease concerns from some unions and lawmakers, despite the president’s request that the already negotiated deal not be changed. Both measures now move to the Senate. While the strike-averting resolution is expected to pass, the one requiring companies to provide paid time off is far from a sure bet.

Difference in Opinions

“We’re disappointed that Congress is being called to intervene here for a couple reasons,” said Peter Kennedy, chief negotiator for BMWED (The Brotherhood of Maintenance of Ways Employees Division), one of the unions that rejected the agreement for not addressing the lack of sick leave. “We continue to ask Congress to do the right thing here, which is: If you’re going to legislate a solution, they should also legislate paid sick leave along with the tentative agreement.”

GettyImages-1443734048 - union pacific-min

(Photo by Mario Tama/Getty Images)

Not all the union representatives, however, agreed with Kennedy and Congress. Railroad managers had warned against making any changes to the agreement, arguing instead that it should be implemented as it was negotiated back in the fall.

“The Ramifications of approving such a measure would disincentivize future voluntary agreements for freight railroads, Amtrak and airlines if a party in bargaining believes it can obtain a better deal from Congress than it could through good faith negotiations and the statutory [the Presidential Emergency Board] process under the Railway Labor Act,” Association of American Railroads President Ian Jefferies said in a statement.

The Cost of a Rail Strike

Without congressional intervention, a rail strike would almost certainly come. Were it not averted in some way, operation would begin to shutdown as early as December 9 – but the effects would have been felt even sooner. “Rail carriers have already notified that ammonia shipments will need to be pulled off the network starting about five days before, which would be December 4th,” explained Corey Rosenbusch, president of the Fertilizer Institute.

About 30% to 40% of all goods in America are transported by rail, and a shutdown would adversely affect the country’s supply chain across the board – especially given the fact we’re already suffering from backlogged ports and a trucking shortage. But it would be especially disastrous for products like ethanol, fertilizer, and grain, which are moved primarily on trains.



Source link

Tags: BreakingHousepassesRailresolutionstrike
Previous Post

rbi: RBI cautions banks against frauds in a/cs linked to direct benefit transfer

Next Post

US Pending Home Sales Fall -36.7% YoY In October, MBA Purchase Applications Fall -31.22% YoY As Fed Tightens – Investment Watch

Related Posts

Elon Musk’s SpaceX set to launch Israel’s Dror satellite

Elon Musk’s SpaceX set to launch Israel’s Dror satellite

by Assaf Gilead
July 11, 2025
0

On Sunday morning US billionaire Elon Musk's SpaceX's Falcon 9 rocket will launch Israel Aerospace Industries (IAI) Dror 1...

Apple iPhone 16e, Samsung Galaxy S24 Ultra, OnePlus Nord 5

Apple iPhone 16e, Samsung Galaxy S24 Ultra, OnePlus Nord 5

by NDTV Profit Tech
July 11, 2025
0

4. iQOO 13 (Ace Inexperienced): Rs 52,999 (Down From Rs 61,999)Outfitted with a 6,000mAh battery, 6.82-inch FHD display screen, 50MP...

Crude oil futures gain as Trump plans major Russia statement 

Crude oil futures gain as Trump plans major Russia statement 

by Euro Times
July 11, 2025
0

At 9.53 am on Friday, September Brent oil futures have been at $68.79, up by 0.22%, and August crude oil...

US stocks: S&P 500, Nasdaq rise to record highs boosted by Nvidia record valuation, strong Delta forecast

US stocks: S&P 500, Nasdaq rise to record highs boosted by Nvidia record valuation, strong Delta forecast

by Euro Times
July 11, 2025
0

The S&P 500 and the Nasdaq Composite rose modestly to publish file closing highs on Thursday, boosted by an upbeat...

Furniture Insider: Data and Trends for Resellers (2025)

Furniture Insider: Data and Trends for Resellers (2025)

by Andrea Vargas
July 10, 2025
0

The furnishings class is rapidly increasing in each quantity and recognition. Main manufacturers and retailers depend on B-Inventory—the world’s largest...

Saratoga Investment Q1: ROE Beating The BDC Industry Average (NYSE:SAR)

Saratoga Investment Q1: ROE Beating The BDC Industry Average (NYSE:SAR)

by David Johnson
July 10, 2025
0

This text was written byObserveDavid A. Johnson is founder and principal of Endurance Capital Administration, a New Jersey Restricted Legal...

Next Post
US Pending Home Sales Fall -36.7% YoY In October, MBA Purchase Applications Fall -31.22% YoY As Fed Tightens – Investment Watch

US Pending Home Sales Fall -36.7% YoY In October, MBA Purchase Applications Fall -31.22% YoY As Fed Tightens – Investment Watch

Crypto Exchange Kraken Cuts Global Workforce by 30%

Crypto Exchange Kraken Cuts Global Workforce by 30%

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Why ACA health insurance premiums may see ‘sharp’ increase in 2026

Why ACA health insurance premiums may see ‘sharp’ increase in 2026

July 11, 2025
PEP, Supportive Care, and More

PEP, Supportive Care, and More

July 11, 2025
Research Predicts 0,000 Bitcoin By EOY, If Treasury Firms Hold

Research Predicts $160,000 Bitcoin By EOY, If Treasury Firms Hold

July 11, 2025
Russia develops Mi-80 to replace iconic Hip helicopter

Russia develops Mi-80 to replace iconic Hip helicopter

July 11, 2025
Elon Musk’s SpaceX set to launch Israel’s Dror satellite

Elon Musk’s SpaceX set to launch Israel’s Dror satellite

July 11, 2025
Corn Sticking Close to Unchanged at Midday

Corn Sticking Close to Unchanged at Midday

July 11, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Why ACA health insurance premiums may see ‘sharp’ increase in 2026

PEP, Supportive Care, and More

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In