The proposed funding is part of a larger package designed to spark economic growth in science and technology.
An additional US$10bn is being proposed for investment in scientific research facilities.
"For every dollar invested in broadband the economy sees a ten-fold return on that investment," committee member Dave Obey said in a written summary of the plan.
"We need to put scientists to work looking for the next great discovery, creating jobs in cutting-edge-technologies, and making smart investments that will help businesses in every community succeed in a global economy."
Federal funding for broadband and telecommunications networks has long been a hotly-contended issue in the US, particularly in sparsely-populated rural areas where commercial providers have been hesitant to invest in cable and wireless broadband coverage.
The plan also calls for US$32bn to spent on developing "smart" energy grids and $1bn to improve technology in schools, raising the possibility of even more investment for the IT industry.