Rep. Nancy Pelosi (D-Calif.) has been nominated by the Democratic Caucus to be speaker of the House and will face a full floor vote on Jan. 3.

Why it matters: Pelosi, who has faced a wave of resistance from Democrats that believe the party needs fresh leadership, told reporters she thinks she's "in pretty good shape" to get the 218 votes necessary to be elected speaker for the second time. If elected, Pelosi will serve as a de facto opposition leader to President Trump, responsible not only for advancing the Democratic Party's policy agenda, but also for setting their strategy for investigating the administration.