I definitely wouldn't say that this bill 'fixes the DMCA', but it certainly corrects some of the most gratuitous issues. The DMCA doesn't explicitly affect linking to infringing content - that's mostly on the courts that have made that interpretation, even if the DMCA has helped to enable them.

Trying to revise or remove the DMCA wholesale would be a much more difficult undertaking, and correspondingly less likely to succeed.

(I recommend reading the bill to everyone, by the way. It's only five pages long.)