1、CRS INSIGHT Prepared for Members and Committees of Congress INSIGHTINSIGHTi i COVID-19 Congressional Oversight Commission (COC) Updated January 6, 2022 On March 27, 2020, President Donald Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) into law (P.L. 116-136). Section
2、 4020 of Title IV, Subtitle A, the Coronavirus Economic Stabilization Act of 2020, established a five-member Congressional Oversight Commission (COC) as one of several oversight mechanisms. The COC “conducts oversight of the implementation of this subtitle by the Department of the Treasury and the B
3、oard of Governors of the Federal Reserve System,” reports to Congress on the Treasury Secretarys and the Federal Reserve Board of Governors actions, and reviews the federal governments implementation of the act. Through January 3, 2022, the COC has issued 20 reports. Is the COC a Congressional Commi
4、ssion? A congressional advisory commission is generally defined as a multimember independent entity that (1) is established by Congress, (2) exists temporarily, (3) serves in an advisory capacity, (4) is appointed in part or whole by Members of Congress, and (5) reports to Congress. This definition
