According to the Federal-State Joint Board on Universal Service, the Universal Service Fund grew to $7 billion in 2008. Support for the high-cost program increased $200 billion from 2007 to $4.5 billion, with competitive eligible telecommunications carriers receiving the additional funds. The rural health care support program also increased to $49 million in 2008. The low-income program saw a reduction in support to $819 million. The Schools and Libraries Program remained around $1.8 billion in 2008.

The Joint Board also reported that the telecommunications industry received approximately $235 billion in end-user revenues in 2008. Revenues for fixed local service providers increased by $3 billion to $78 billion, while wireless revenues increased $2 billion to $118 billion. Revenues for toll services fell $10 billion to $39 billion.