Crowd Sourced Legislative Tracking for Crowd Sourced XBRL Disclosure

Update: CBO has published its cost estimate for H.R. 2392.

Bipartisan legislation to make XBRL the standard for disclosure to the U.S. government has been approved in committee and reported to the full House of Representatives for consideration. Here’s the widget to track it from opencongress.org:

Go to the bill on the opencongress.org Web site to comment and cast your vote. Wow, how subversive is this? Analyzing legislation used to be my job — I was a legislative assistant once. Bringing labor-saving technology to banking and securities regulation is one thing, but making L.A.’s on the Hill redundant? What hath sunlight wrought? And what further damage will be done when XBRL makes more government information more transparent?

Note: If you’re wondering how XBRL disclosure is crowd sourced, visit this site for one example. In the case of U.S. GAAP, anyone with an Internet connection and an interest was invited to help decide what data should be tagged.