What costs $230 billion and shortchanges pedestrian and bicycle safety and already cash-strapped urban transit systems? If you guessed the new transportation reauthorization proposal from the GOP-led House Committee on Transportation & Infrastructure, you’d be right.

A summary of the bill was released Thursday, but the full text of the legislation is yet to be made available to the public. What we do know is that the $230 billion package is less than half of what the Obama Administration would like to be spending on transportation over the course of the next six years, and also less than than SAFETEA-LU, the surface transportation bill that was authorized in 2005.

While the bill’s summary lists few specific programs that would be cut, Chairman John Mica (R-Fla.) announced in a press conference Thursday that the bill will eliminate funding for several bicycle, pedestrian and transit programs, including Transportation Enhancements, the Recreational Trails Program and Safe Routes to School. It also aims to cut Amtrak’s federal funding by a quarter through the 2013 fiscal year, which should be no surprise: Mica and Representative Bill Shuster (R-Pa.) co-authored a bill that would privatize Amtrak last month. Advocates for non-highway alternatives like trails and bikes have already begun to speak out against the proposal.

The proposed bill, which has a working title of “A New Direction,” is decidedly pro-highway and anti- just about everything else, especially red tape (there were no less than 10 mentions of the stuff in the 22-page summary). One key feature of the proposal, is that states will no longer be required to use federal funds for non-highway projects. If states do, however, choose to prioritize any non-highway projects, they “will be held accountable for those choices through performance measures and transparency requirements.” Other highlights in the bill include a mechanism for states to toll new capacity on Interstate Highways (but not existing lanes), increased funds for transit programs in suburban and rural areas (but not in urban areas), a new definition of what qualifies as “high-speed” rail (125 MPH, up from 110 MPH) and a requirement for states to spend federal dollars in areas where safety performance goals are not being met.

A New Direction also prioritizes stabilizing the Highway Trust Fund and maximizing existing revenue, but does not seek to increase the gas tax, which has been sitting pretty at 18.4 cents per gallon since 1993.