; and (B) a comparison of the extent to which relevant United States foreign policy objectives are effectively pursued on a cost-effective basis through each of the overlapping entities. 7. United States multilateral review task force (a) Establishment The President shall establish an interagency Multilateral Review Task Force (referred to in this Act as the Task Force ) to review and assess United States participation in multilateral entities identified in section 5 and to develop and transmit to the appropriate congressional committees the reports required under section 6. (b) Leadership The Task Force shall be chaired by the Secretary of State. The Secretary may delegate his or her responsibilities under this Act to an appropriate senior Senate-confirmed official. (c) Membership The President may appoint to the interagency Task Force senior Senate-confirmed officials from the Department of State, the Department of the Treasury, the United States Agency for International Development, the Office of Management and Budget, and any other relevant executive branch department or agency. (d) Consultation In the preparation of each report under section 6, including the initial review of methodology, the Task Force shall consult regularly with the Peer Review Group established under section 8. 8. United States multilateral aid review peer review group (a) Establishment There is established the United States Multilateral Aid Review Peer Review Group (referred to in this Act as the Peer Review Group ). (b) Membership (1) Composition The Peer Review Group shall be composed of 8 nongovernmental volunteer members, of whom— (A) two shall be appointed by the majority leader of the Senate; (B) two shall be appointed by the minority leader of the Senate; (C) two shall be appointed by the Speaker of the House of Representatives