Lowering Broadband Costs for Consumers Act of 2023

This bill requires large broadband providers and major online services (like social media, streaming platforms, and search engines) to contribute to the Universal Service Fund, which helps bring affordable broadband to rural and high-cost areas. It exempts smaller companies with under $5 billion in annual U.S. revenue or that transmit less than 3% of U.S. internet traffic. The Federal Communications Commission must create a new support mechanism to assist eligible rural broadband providers, limiting aid to one provider per area. The goal is to expand fund contributions and ensure predictable support for affordable broadband access.