The economic damage from a possible rail strike would have been “catastrophic,” and President Joe Biden deserves credit for stepping up, one expert said.
“You have to give him credit here,” Christopher Jahn, CEO of the American Chemistry Council, told the Washington Examiner, adding that Biden “showed leadership” by stepping up and saying, “Look, this is something we need to get done.”
“Nobody was happy about having to do it,” Jahn, who represents freight rail consumers, said on the Plugged In podcast.
‘RIGHT THING TO DO IN THE MOMENT’: BIDEN SIGNS BILL AVERTING CHRISTMAS RAIL STRIKE
Biden signed a bill averting a national rail strike into law Friday, calling the agreement “the right thing to do” even though it excluded an increase in paid sick leave for rail workers.
If the planned Dec. 9 strike were to happen and last even a month, nearly 1 million American jobs would be lost, according to Jahn. He said the council’s research also showed a potential 4% increase in inflation and more than $160 billion drained from the economy.
The railroads and unions have been negotiating for three years, and it’s not over yet, Jahn noted, especially as the unions blasted Biden for signing the deal, calling it a “slap in the face.”
“You can exhale and take a deep breath … [but] be ready for this to come around again,” he said.
“Hopefully they can … let things cool off a little bit and then get back to the negotiating table,” Jahn added.
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While some have criticized the need for federal mediation, Jahn argued that it was necessary to move forward.
“Everyone involved would have preferred to see the unions and the railroads figure something out collectively,” he said.
“But they weren’t able to do that. So Congress needed to intervene,” Jahn added.
He touted the bipartisan effort, even joking about “unholy alliances” on the Hill as lawmakers from both sides of the aisle joined “Union Joe” in support of the rail workers, including Sens. Ted Cruz (R-TX) and Bernie Sanders (I-VT).
“We’re very happy that Congress acted on a bipartisan basis. Who said bipartisanship was dead?” Jahn quipped.
“Hopefully things will go back to normal, but normal’s got to get better,” he added.
Plugged In, hosted by former Federal Energy Regulatory Commission Chairman Neil Chatterjee and energy reporter Breanne Deppisch, brings on key players, from lawmakers to federal employees to industry experts, to keep our audience up to speed on the latest energy issues facing the country and the planet.
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