I understand the core issue being that the current USF structure is unsustainable. If so, it is certainly within reason to change its structure to something that can be maintained.
I'm actually somewhat surprised a Republican committee member is suggesting shifting from a relatively low per-consumer fee to a comparatively high business fee focused on "big tech". The "obvious" alternative would be to exchange the phone-based fee to an Internet connection fee.
The principle of the tax-free Internet was to ensure greater ability to experiment with business models until something worked. Now that there are numerous multi-billion-dollar Internet companies out there, it seems obvious that business models have adequately developed. Thus, the early tax holiday has outlived its need.