Boeing machinists to vote on new proposal that could end strike [Video]

Boeing and its machinists’ union have reached a new contract proposal, the union said Saturday, outlining  a deal that could end a more than month-long strike that has hobbled the manufacturers’ aircraft  production.

The ratification vote is set for Wednesday.

The new proposal includes 35% wage increases over four years, a higher signing bonus of $7,000, guaranteed minimum payouts in an annual bonus program and higher 401(k) contributions among other changes.

Acting U.S. Secretary of Labor Julie Su met with both parties earlier this week. “With the help of Acting U.S. Secretary of Labor Julie Su, we have received a negotiated proposal and resolution to end the strike, and it warrants presenting to the members and is worthy of your consideration,” the International Association of Machinists and Aerospace Workers District 751 said in a statement Saturday.

“President Biden believes the collective bargaining process is the best way to achieve good outcomes for workers, and the ultimate decision on …