I've read the Free Press proposal. I'm in the business, know the economics, have done some detailed studies of the Universal Service Fund (what a joke!), and recognize a mess when I see one.
First off, they're overly impressed by speed. They want 50/5 Mbps all over. You need that for three streams of HDTV via Internet, but not much else. They are out to hurt cable, and probably don't understand the nature of the copyright issues that rule those industries. They also ignore the issues facing rural providers, connecting them to the backbone, where current rules let the big Bells gouge small companies (some of whom pass the bill on to the Universal Service Fund). And where's the cost-benefit analysis? USF finances ridiculous boondoggles today. (They finance over $200k PER HOME to Sandwich Isles Communications.) Do we need more?
In fact they explicitly disclaim telecom competition as opened by the Telecom Act of 1996, favoring instead a massive expenditure on a "third pipe" closed approach, as if a triopoly were all that much better than a duopoly. In other words, it's "f* you" to the ISPs.
They have detailed plans to spend the money, but their details reflect a lack of understanding of what the actual costs and needs are. Too much here, too little there. It's like they're taking random numbers and throwing them out there, because that's how pork barrel politics works.
Their plan is classic inside-the-beltway "I want mine" thinking. It's not a good way to improve Internet access; it's a way to make some rich telephone companies richer, leaving a big bill for us to pay later.