Thankfully it never passed the senate.
2. Why would you be thankful if it were to fail?
I handle litigation for my company. The far majority of it is someone looking for a payday. We blow millions of dollars on lawyers fighting BS lawsuits. It sickens me. I'm a lawyer and litigators disgust me (for the most part). It's 90% bottom feeders.
If you want to argue that arbitration is fair, then please point to some open records from arbitration proceedings.