To assert that the Committee of the Whole is nothing more than

another advisory committee to the House is to completely
misread history and misrepresent the true nature of such
committees. In the final analysis, the Committee of the Whole,
with its special authority for revenue and spending bills, is the
very essence of the House exercising its special powers and
prerogatives under the Constitution.
Madison, in Federalist No. 58, put it this way:
“The House of Representatives cannot only refuse, but they alone
can propose the supplies requisite for the support of government.
They, in a word, hold the purse--that powerful instrument. . . .
This power over the purse may, in fact, be regarded as the most
complete and effectual weapon with which any constitution can
arm the immediate representatives of the people, for obtaining a
redress of every grievance, and for carrying into effect every just
and salutary measure.” 47

The Committee of the Whole remains today the critical device by
which the House, acting together as ‘the immediate
representatives of the people,’ retains its unique control over the
purse – ‘that powerful instrument.’ It is, in every sense of the
term, the House of Representatives exercising its most
fundamental legislative powers as granted under Article I of the
Constitution.  
47 Alexander Hamilton, James Madison, and John Jay, The
Federalist Papers (New York: The New American Library of
Congressional Record
103rd Congress (1993-1994 - 6/21/15, 1:47 PM / 26
Literature, Inc., 1962 ed.), p. 359.