Faster Labor Contracts Act

This legislation seeks to significantly reduce delays in establishing initial collective bargaining agreements after employees vote to unionize. It addresses findings that protracted negotiations, often lasting over a year, primarily benefit employers and undermine the rights of workers to secure prompt contracts. The bill aims to facilitate the expediency of these first contracts, ensuring employees can fully enjoy the benefits guaranteed by federal labor law. To achieve this, the bill amends the National Labor Relations Act by establishing a new process for initial contracts. Parties must begin bargaining within 10 days of a request and make every reasonable effort to conclude an agreement within 90 days. If no agreement is reached, either party can request mediation through the Federal Mediation and Conciliation Service for a 30-day period. Should mediation fail, the dispute proceeds to binding arbitration by a three-person panel, whose decision is final for two years. This decision must consider the employer's financial status, the size of its operations, the employees' cost of living and ability to sustain themselves, and comparable wages and benefits offered by other employers in the same business. Additionally, the bill clarifies that an employer's duty to bargain continues until decertification and requires the maintenance of current wages, hours, and terms of employment during negotiations. It also mandates a Government Accountability Office report within one year to examine the average time-to-contract following the Act's enactment.