It's the only panel in Congress specifically designed to keep an eye on military related spending. From The Politico:
"Chaired by Rep. Marty Meehan, (D-MA), (pictured) the new subcommittee will delve into the details of Iraq-related reconstruction contracts, troop readiness, equipment priorities and Iraq war strategy -- looking for waste, fraud and shortfalls that were essentially ignored after the panel was shuttered in 1995 by the Republican congressional majority."
Rep Meehan also wants to focus on the billions in contracts issued so far to rebuild and rearm Iraq.
"We've spent literally billions of dollars on building infrastructure, and the Iraqi army and police have nothing to show for it." -- Rep Marty Meehan in an interview with The Politico
Rep Meehan wants the subcommittee in full swing by the end of February. That may be too late to address the President's troop surge. But it will allow time to review the 2008 Defense budget and supplemental spending requests for the Iraq War. (The Politico)