The Committee on House Administration announced Thursday that it will hold a hearing next month on a Supreme Court decision that significantly altered campaign finance law. 

Rep. Robert Brady's (D-Pa.) panel became the second congressional committee to say it will hold a hearing on the Court's decision to lift limits on corporate spending on politics.

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"I will be working directly with my colleagues, the leadership and the White House to study the Court’s decision and to put together a timeline for legislative action that ensures the Court’s decision will not define the ways elections are conducted in 2010," Brady said in a statement.

Brady criticized the Supreme Court's 5-4 decision on Citizens United v. Federal Election Commission as an edict that "laid waste to measures that prohibit these entities from exercising massive and unchecked influence over the American voting system."

Senate Rules Committee chairman Charles Schumer (D-N.Y.) also said Thursday that his panel will convene a hearing and said he will introduce legislation to mitigate the Court's decision.

Two Republican leaders praised the decision.

Senate Minority Mitch McConnell (R-Ky.) praised the decision as a victory for free speech and National Republican Senatorial Committee chairman John Cornyn (Texas) said that he hopes it will allow political parties to spend more money on elections.

The Court's ruling left in place disclosure requirements for corporate contributions.