Business groups from across the U.S. called on Congress Monday to take "immediate" actions to step in and avoid a looming nationwide rail strike that could wreak havoc on the economy, as labor negotiations between unions and the nation's freight railroads remain stalled ahead of next week's deadline for an agreement.
A coalition of 449 organizations led by the U.S. Chamber of Commerce warned congressional leadership in an open letter that federal lawmakers should be ready to act before the Dec. 9 strike deadline, saying disruptions to the nation's rail service could begin as early as Dec. 5 and calling the situation a "matter of grave urgency."
If a work stoppage occurs, it would cost the economy an estimated $2 billion per day, decimate an already-fragile supply chain during the holiday shopping season, and cause shortages that would drive prices up further as inflation continues to rage. It would also halt Amtrak and other commuter rail services, disrupting up to 7 million travelers daily, according to the groups.
