Universal Service Reform Act of 2007 - Amends the Communications Act of 1934 concerning procedures for the review of universal service requirements to require the Federal-State Joint Board on universal service to complete recommendations for changes to such requirements within 18 months after the date of enactment of this Act. Includes high-speed broadband services within universal service. Directs the Federal Communications Commission (FCC) to assess contributions to universal service support mechanisms from communications service providers. Provides support contribution limits. Requires the FCC to revise it's support mechanism for rural, insular, and high cost areas.
Requires communications service providers to ensure that all traffic contains or preserves sufficient information to allow traffic identification by other communications service providers that transport or terminate the traffic.
Outlines eligibility requirements for communications service providers to receive universal service support.
Makes current limitations on universal service support and individual support caps imposed upon carriers inapplicable after the date of enactment of this Act.
Requires all residential and business lines served by an eligible telecommunications carrier to be eligible for federal universal service support.
Allows states to: (1) adopt regulations not inconsistent with FCC universal service rules; and (2) require communications service providers to contribute regardless of whether the service contains an interstate component.