The National Retail Federation today issued the following statement from President and CEO Matthew Shay following the U.S. House’s vote to approve H.J. Res. 100. The resolution, which now heads to the Senate, will implement the Tentative Agreement that was negotiated between the administration, the rail labor unions and the railroads.

“America’s railroads serve nearly every sector of our economy and provide access to global markets. The freight rail system is a lifeline for many industries, ensuring the transport of not only retail goods, but also essential food and energy supplies.

“We commend the swift action of the House to approve this critical piece of legislation and prevent a potential catastrophic freight rail shutdown that could cost the economy $2 billion a day.

“It is imperative that the Senate now acts immediately to approve the measure and send it to President Biden’s desk. Until the Tentative Agreement is in place, U.S. economic security remains in jeopardy.”