The Library of Congress has released A Bibliographic Framework for the Digital Age.
Here's an excerpt:
Although the MARC-based infrastructure is extensive, and MARC has been adapted to changing technologies, a major effort to create a comparable exchange vehicle that is grounded in the current and expected future shape of data interchange is needed. To assure a new environment will allow reuse of valuable data and remain supportive of the current one, in addition to advancing it, the following requirements provide a basis for this work. Discussion with colleagues in the community has informed these requirements for beginning the transition to a "new bibliographic framework". Bibliographic framework is intended to indicate an environment rather than a "format".