A summary and bill text of MAP-21 (Moving Ahead for Progress in the 21st Century) was released late Friday night by the Senate’s Environment and Public Works Committee. Here’s what you’ll want to know now about the bill’s proposals:

1. Maintains highways and transit funding at roughly current (funding, not revenue) levels for two years
2. Provides States with at least 95% of what they pay in transportation taxes, but eliminates the underlying formula program distribution
3. Reduces “core” highway programs to five from seven
4. Provides states more flexibility in how they use their money
5. Consolidates surface transportation programs down to about 30 from the approximately 90

To see the entire list, visit Transportation Issues Daily.