The bill addresses the rise in greenhouse gas emissions (GHG) from transportation, highlighting the need to reduce carbon dioxide emissions, vehicle miles traveled, and congestion. It proposes a "Value Capture Policy and Planning Program" to incentivize public transportation and affordable transit-oriented development through grants to states and local governments. The program promotes mobility, public transit, and strategic partnerships, emphasizing the use of land value capture to fund long-term investments. Additionally, it requires the maintenance of effort in funding and the assessment of grant effectiveness. The Secretary will establish voluntary value capture standards, policies, and best practices to guide state and local value capture mechanisms.