The ernment Information Transparency Act (H.R. 2392), introduced May 14 by Rep. Darrell Issa (R-Calif.), would standardize the llection of business information throughout agencies. It would require agencies to use a single data standard known as eXtensible Business Reporting Language (XBRL) and require that llected information be made readily available for public aess.

Of urse, this begs the question of what data will be llected.  Once decided, a taxonomy can be easily assembled that would llect the data in a uniform way.  Software mpanies in the XBRL space have developed web-based html driven fill in the blank data llection devices that nvert cell entries into XBRL unseen by the end user.  This requires a mind shift from a report-based approach to a data-based approach to receiving feedback on TARP projects.  It also requires ernment agencies to centralize their data requests rather than each agency develop their own required paper-based reports.

The key again is to formulate the taxonomy, llect the data, then develop reports using a mmon data repository.  

To see how this approach can work, take a look the Dutch Taxonomy Project or the Bank of Japan project detailed here