Update (1155ET): It's becoming increasingly possible that a major freight rail stoppage could materialize following the news thousands of rail workers rejected labor agreements this morning. 

The 4,900 members from District 19 under the International Association of Machinists and Aerospace Workers (IAM) voted against the Tentative Agreement (proposed collective bargaining agreements that have not been ratified) with the National Carriers' Conference Committee (NCCC). 

IAM District 19 released the following statement:

"The Tentative Agreement has been rejected and the strike authorization vote was approved by IAM District 19 members. Out of respect for other unions in the ratification process, an extension has been agreed to until Sept. 29, 2022 at 12 p.m. ET. This extension will allow us to continue to negotiate changes with the NCCC in the hopes of achieving an agreement our membership would ratify.

"IAM freight rail members are skilled professionals who have worked in difficult conditions through a pandemic to make sure essential products get to their destinations. We look forward to continuing that vital work with a fair contract that ensures our members and their families are treated with the respect they deserve for keeping America's goods and resources moving through the pandemic. The IAM is grateful for the support of those working toward a solution as our members and freight rail workers seek equitable agreements."