Forced arbitration agreements tie employees' hands when it comes to punishing their employers for illegal actions (wage theft, sexual harassment, racial discrimination, anti-union activities, and much more).
The FAIR act would outlaw the practice of forcing employees to sign these agreements and render any existing agreements void (with the exception of currently active disputes under an arbitration agreement).
As a side bonus, this would also illegalize the practice of forcing consumers to agree to arbitration clauses before purchasing goods or services.
Studies have shown that there is a massive difference in employers' favor when arbitrating vs litigation in open court – the company wins significantly more often in arbitration. This is somewhat intuitive – arbitration is an inherent conflict of interest. The arbitrators' paychecks are signed by the companies that are being represented.
If you have the time, you should seek to contact your senator. Show up in person if you can, get on the phone if you're able, email if you can't do either, but make it clear that your continued support is wholly contingent upon this bill being passed into law.
In addition, if you can organize group action to call attention to this bill, it'd be a big help. Forced arbitration is one of the largest contributors in allowing companies to get away with abusing workers.