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.