House Speaker Nancy Pelosi Nancy PelosiMcConnell focuses on confirming judicial nominees with COVID-19 talks stalled Overnight Defense: Top admiral says 'no condition' where US should conduct nuclear test 'at this time' | Intelligence chief says Congress will get some in-person election security briefings Pelosi must go — the House is in dire need of new leadership MORE (D-Calif.) on Tuesday named Rep. Don Beyer (D-Va.) to be the vice chairman of the Joint Economic Committee (JEC), tapping him to serve as the top Democrat on a panel that includes members from both chambers of Congress.

Beyer is set to succeed Rep. Carolyn Maloney Carolyn Bosher MaloneyHouse panel advances bill to ban Postal Service leaders from holding political positions Shakespeare Theatre Company goes virtual for 'Will on the Hill...or Won't They?' DHS IG won't investigate after watchdog said Wolf, Cuccinelli appointments violated law MORE (D-N.Y.), who became chairwoman of the House Oversight and Reform Committee late last year following the death of Rep. Elijah Cummings Elijah Eugene CummingsOvernight Health Care: US won't join global coronavirus vaccine initiative | Federal panel lays out initial priorities for COVID-19 vaccine distribution | NIH panel: 'Insufficient data' to show treatment touted by Trump works House Oversight Democrats to subpoena AbbVie in drug pricing probe Democratic chair subpoenas postmaster general for documents on reforms MORE (D-Md.).

"As a powerful voice in Congress and on the Joint Economic Committee, Congressman Beyer has fought tirelessly to confront the disparity of income that is undermining the confidence of millions of hard-working Americans," Pelosi said in a news release. "At the helm of the JEC, his skilled leadership and firm values will be essential to bring meaningful progress that strengthens our economy, protects American workers and makes a difference in the lives of the American people."

ADVERTISEMENT

Pelosi's recommendation of Beyer for the vice chairman position needs to be confirmed by a vote of the whole committee to take effect.

The JEC is tasked with examining U.S. economic conditions and making recommendations about how to grow the economy. The panel holds hearings annually with the chairmen of the Federal Reserve and the White House Council of Economic Advisers and holds hearings on other economic matters.

The JEC contains members from both the House and the Senate, with the chairman alternating between the two chambers. In the current Congress, the committee's chairman is Sen. Mike Lee Michael (Mike) Shumway LeeMcConnell shores up GOP support for coronavirus package McConnell tries to unify GOP Davis: The Hall of Shame for GOP senators who remain silent on Donald Trump MORE (R-Utah.). In 2021, the chairman of the committee will come from the House and is likely to be Beyer if Democrats maintain their majority in the chamber.

Beyer, who represents Northern Virginia suburbs of Washington, also serves on the House Ways and Means Committee and the House Science, Space and Technology Committee. He's a member of both the Congressional Progressive Caucus and the more moderate New Democrat Coalition.

"Stewardship of the U.S. economy is one of the most important challenges facing Congress, and I will approach this responsibility with the gravity it deserves," Beyer said.

He added that he'll draw upon his past experiences in government and business as well as his progressive values "in the fight to address the major economic challenges of our time, including growing inequality, wage stagnation, the climate crisis, and the cost of healthcare."