After opening statements by Committee Chairman Robert Brady (D-Pa.) and Ranking member Dan Lungren (R-Calif.), committee member Zoe Lofrgren (D-Calif.) expresses her shock at the lack of judicial restraint in the Citizens United decision, mentions the Fair Elections Now Act and encourages witnesses to discuss the legislation. Rep. Michael Capuano (D-Mass.) is next and stresses that "we need to get the system back in the hands of voters," and mentions public financing.

Panelists Mary G. Wilson,
President of the League of Women Voters and Judith A. Browne-Dianis
Co-Director of the Advancement Project, have both touted the Fair Elections Now Act in their testimony.

More discussion of shareholders rights by members and panelists, as well as strengthening disclosure laws.

Rep. Kevin McCarthy (R-Calif.) essentially says that the sky is not falling. "Who's to say that corporations would use this newfound freedom to spend a lot of money in elections." A nice thought, but perhaps not grounded in reality.

Hearing wrapping up...Rep. Capuano wants a level playing field. "The only reason politicians think they need millions of dollars to run is because the other guy has it. I want voters deciding elections based on who's on the ballot, not who has the most money. Elections should be decided by regular people. This is the goal. We need honest debates and honest elections based on ideas and not money."