The Faster Labor Contracts Act aims to speed up the process of reaching initial labor contracts after workers vote to unionize. Currently, negotiations between newly certified unions and employers often drag on for over a year, which the bill's sponsors argue gives employers an advantage in delaying agreements and obtaining more favorable terms. The legislation modifies the National Labor Relations Act to require employers to begin bargaining within 10 days of a union's certification and to make "every reasonable effort" to reach a deal within 90 days. If negotiations stall, the Federal Mediation and Conciliation Service will attempt to broker a deal within 30 days, and if that fails, the dispute goes to a binding three-person arbitration panel that must decide contract terms within two years. The arbitrators will base their decisions on factors including the employer's financial status, the cost of living, employee needs, and wage standards at similar businesses. Finally, Congress's Government Accountability Office must report back within one year on whether these changes have reduced the average time to reach a first contract.
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