The nation's largest rail union on Monday voted down a tentative contract brokered by the White House, raising the possibility of a nationwide strike next month that could cripple the U.S. economy.

The SMART Transportation Division, or SMART-TD, which represents about 28,000 conductors, rejected the contract in a vote that garnered record turnout, the union said Monday. The contract was nixed by a slim margin, as just 50.8% of workers voted against it.

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