Joe Biden's administration is rushing to avert a railroad workers strike that White House officials fear could severely damage the economy as well as weaken Democrats ahead of the 2022 midterm elections, the Washington Post reports.

According to CNBC, the railroad carriers and two unions are negotiating an increase in vacation and sick leave benefits in a new contract and must reach a deal by Friday before the unions go on strike.

Anonymous sources told the publication that White House officials are holding emergency meetings to discuss the potential strike and are also warning of the damage it could do to Democrats during the November election.

According to the Washington Post, Transportation Secretary Pete Buttigich is one of those trying to broker a deal between the two parties to prevent a strike.

Suzanne Clark, president and CEO of the U.S. Chamber of Commerce, said the strike would have catastrophic economic consequences.