The Committee hopes that the SEC will follow up the new proxy proposal and the promise of XBRL (Extensible Business Reporting Language) with other advances in the use of electronic communications.

WillExtensible Business Reporting Languagethreaten the future of American business competition?

XBRL,a new way of organizing financial and business data, transcends language, systems, and software.

U.S. companies need to accelerate the development and use of XBRL, a financial reporting system that enables investors and analysts to compare company performance.

Capital markets should be able to benefit from the vast improvements in information use that the Internet has made possible.

A new form of disclosure is necessary to provide investors with information about the success of companies in creating value and the likelihood of sustaining profitability in the future.

XBRL (eXtensible Business Reporting Language) can change the financial world. The SEC can help make XBRL widespread.

Technology in the form of XBRL could helpin the future to level the playing field between large and small firms in the competition for capital.