WASHINGTON - President Joe Biden calls the tentative agreement reached with rail workers an important win for the economy and the American people.

The agreement which averts a strike threatening to stall railroad transportation was announced in a statement issued early Thursday by the White House.

According to the statement, rail workers will get better pay, improved working conditions, and peace of mind around their health care costs.

In addition, the statement says railway companies will be able to retain and recruit more workers.

“The hard work done to reach this tentative agreement means that our economy can avert the significant damage any shutdown would have brought,” said Biden in the statement.