THE WHITE HOUSE
Office of the Press Secretary
STATEMENT BY THE PRESIDENT ON SETTLEMENT OF RAILROAD CONTRACT NEGOTIATIONS
These agreements represent a triumph of the collective bargaining process. I commend the parties for their hard work in reaching these settlements. I also commend our Presidential Emergency Boards for developing recommendations that helped to bring about these resolutions.
In the past twenty-five years, Congress has had to step in no fewer than ten times to prevent national rail stoppages. Such stoppages can cost American businesses and consumers billions of dollars. The voluntary contract agreements achieved this year broke that pattern and represent a milestone for labor-management relations.