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Speaker Nancy Pelosi announced Thursday the creation of a new House committee addressing the coronavirus crisis, led by House Majority Whip Jim Clyburn (D-S.C.).

The big picture: Pelosi said that the new committee would oversee "all aspects" of the federal response to the pandemic, including the $2 trillion stimulus bill. She specifically cited the Truman Committee, formed in 1941 to address inefficiencies and profiteering during World War II, as a guide.

  • Pelosi specifically said that the committee would have subpoena power, granting it significant oversight capability against the Trump administration.
  • One of Pelosi's biggest fights during stimulus negotiations was oversight language for the $500 billion fund designed to help impacted industries.

Between the lines, via Axios' Alayna Treene: A lot of lawmakers have raised concerns about the implementation of the massive stimulus, given the overwhelming demand for loans.

  • This committee will help address these concerns — and coordinate aid efforts between federal agencies.
  • It'll also serve as a check on the government to ensure federal funds aren't being abused.

This story is developing. Please check back for updates.

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