Photo: Michael Brochstein/SOPA Images/LightRocket via Getty Images

The House voted along party lines on Thursday in favor of establishing a select committee to oversee the federal government's response to the novel coronavirus.

Why it matters: The committee, chaired by House Majority Whip Jim Clyburn (D-S.C.), will have subpoena power and broad authority to investigate how the Trump administration uses the trillions of dollars in coronavirus relief allocated by Congress.

  • House Speaker Nancy Pelosi announced the formation of the committee earlier this month, but needed the full House's approval before formally establishing the panel.
  • The committee will be a special investigatory subcommittee under the Oversight Committee.

Between the lines: Republicans have voiced concerns that the committee will be partisan, though the resolution states that seven Democrats and five Republicans will be appointed to the panel.

  • During a press conference Wednesday, McCarthy said he doesn't see the point of creating a select committee to oversee stimulus spending, calling it "redundant."
  • "We already have three other committees" to conduct oversight of the allocation of stimulus funds, he said.

The big picture: The committee won't be the only mechanism intended to provide oversight of the coronavirus response.

  • Last month's stimulus package established a new special inspector general appointed by the president, a separate panel of inspectors general, and $20 million for the Government Accountability Office.
  • However, President Trump has already partially kneecapped the oversight effort by firing the Pentagon's acting inspector general Glenn Fine, who had been selected to chair the panel.

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Big Tech was buoyed by the exact thing that prevented the dreadful GDP report from being even worse in the second quarter: the pandemic stimulus measures.

Why it matters: The stimulus is in the spotlight as its key expanded unemployment benefits provision is set to lapse despite coronavirus cases surging across the country, reimposed lockdown measures and more businesses shuttering.

Democrats announce full list of convention speakers

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Former President Obama and First Lady Michelle Obama will headline two nights of the Democratic National Convention, according to a full list of speakers released by the party on Tuesday.

Our thought bubble, via Axios' Margaret Talev: It signals how much the Democratic Party is still the party of Barack Obama — and how strongly Biden’s team feels the Obamas can validate his vice presidential choice and energize the party’s base.

The hard seltzer wars are heating up

Illustration: Aïda Amer/Axios

Competition in the hard seltzer market is heating up in the closing weeks of summer, as big companies like Constellation Brands, AB InBev and Molson Coors have entered the market and Coca-Cola is poised to join the fray in 2021.

Why it matters: The coronavirus pandemic has increased alcohol sales overall and hard seltzers are exploding in popularity and look to have staying power, boasting record high sales in recent weeks.