'It's huge': Striking Boeing workers near deal

(AP) -- Boeing and the union representing striking machinists have negotiated a new contract proposal that would provide bigger pay raises and bonuses in a bid to end a costly walkout that has crippled production of airplanes for more than a month.

The International Association of Machinists and Aerospace Workers said early Saturday that it plans to hold a ratification vote on Wednesday.

The union said the Boeing offer would increase pay by 35% over four years, up from 30% that the company offered last month.