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The U.S. Senate has passed legislation to enact a long-term labor agreement between railroads and their labor unions, ending months of uncertainty and averting a disastrous rail strike before the holiday season, CNBC reports.

What’s going on: “The approved bill now goes to President Joe Biden, who had urged Congress to act quickly ahead of this month’s strike deadline and ‘send a bill to my desk for my signature immediately.’ The measures come after talks had stalled between railways and four unions, which had previously rejected the agreement.”

• The House passed its own version of the legislation Wednesday, just two days after President Biden urged swift action and following calls from the NAM and industry allies for resolution.
• On Thursday, a separate vote to add seven days of paid sick leave for rail workers to the agreement failed to attain the necessary 60 votes in the Senate.

Our take: The NAM has long pushed for congressional support of the legislation and applauded its swift passage.

• “Manufacturers welcome this swift action from the Senate to pass legislation preventing a disastrous rail strike,” NAM President and CEO Jay Timmons said on Thursday. He lauded both houses of Congress, Transportation Secretary Pete Buttigieg, Labor Secretary Marty Walsh and President Biden for their work on the measures.

NAM in the news: Timmons was on CNBC’s “Closing Bell ” Thursday to discuss the legislation.