Faster Labor Contracts Act

This bill seeks to significantly accelerate the timeline for establishing initial collective bargaining agreements following the certification or recognition of a labor organization. Congress finds that current negotiation processes are often protracted, with an average delay of 465 days to secure a first contract, which primarily benefits employers and undermines employees' collective bargaining rights. The bill amends Section 8 of the National Labor Relations Act to introduce new requirements for initial contract negotiations. Specifically, parties must meet and begin bargaining within 10 days of a written request after union certification or recognition. If no agreement is reached within 90 days , either party may request mediation from the Federal Mediation and Conciliation Service (FMCS). Should mediation fail to produce an agreement within 30 days , the FMCS is mandated to refer the dispute to a 3-person binding arbitration panel . This panel's decision, which must consider factors such as the employer's financial status, employee cost of living, and wages in comparable businesses, will be binding on the parties for a period of two years. Additionally, the bill clarifies an employer's duty to bargain and maintain current employment terms during negotiations. Finally, the legislation requires the Comptroller General to submit a report within one year of enactment, examining the average time taken to reach initial collective bargaining agreements under the new provisions.