A bill introduced in the House would, if passed, exempt all companies with annual gross revenues under $250,000 from having to use eXtensible Business Reporting Language (XBRL), a computer markup language using a standard set of definitions, or taxonomies, enabling automatic extraction and exchange of financial data that can easily be read by computers and fed into analytic tools. It was proposed on March 14 by Rep. Robert Hurt, a Republican from Virginia.
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