(a) When the Production and Employment Budget and the quarterly reports thereon are transmitted to the Legislature as provided by section 112 of this title, they shall be referred to the appropriate committee of the Legislature.
(b) It shall be the function of such committee—
(1) to make a continuing study of matters relating to the Production and Employment Budget and to consult with the Governor with respect thereto; and
(2) to make a study of the Production and Employment Budget transmitted to the Legislature by the Governor in accordance with section 112 of this title.
(c) The committee, or any duly authorized sub-committee thereof, is authorized to sit and act at such places and times, to require by subpoena or otherwise the attendance of such witnesses and the production of such books, papers, and documents, to administer such oaths, to take such testimony, to procure such printing and binding, and to make such expenditures as it deems advisable.