Just simple inflation really… 1.014 ('20) * 1.07 ('21) * 1.083 ('22) has us at 17.5% inflation from 2020-2022 alone. If '23 and '24 are anything like '21 and '22 (and they will be) – inflation over the life of the railroad contract will be significantly higher than 24%. Meaning the 'tentative agreement' reached by leadership and the Biden admin this morning is a pay cut.
Classic anti-labor US government negotiation and media spectacle bullshit to highlight the 14% immediate raise, bonuses and backpay to trick everyone into ignoring the pay cut reality of the contract proposed. Hiding behind immediate payouts and bonuses during high-inflation years is a shameful tactic – and no surprise there.
Always stay skeptical of advertised 'raises' during high-inflation periods like the one we are in – especially over a 5 year term. Hold strong, scrutinize contracts closely and reject bullshit deals if at all possible. Particularly in cases like this where opportunity is at a peak (right before the election, whole country paying attention).