The fund spends $8 billion annually to subsidize networks.
Consulting firm Brattle Group said in a report the move would be economically sound.
The USF is facing dwindling funds and pending court challenges.
The deal is expected to "amplify" 5G private networks.
Largest beneficiaries of ACP do not participate financially in federal programs designed to promote broadband adoption.
A new Senate working group is set to consider reforms to the USF.
The strategy would identify gaps and limitations that would hinder coordination across federal broadband programs.
The Next Generation Telecommunications Act received bipartisan support.
Congress should invest in wireless and wired broadband to provide resilient, affordable broadband.
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