Hey, good morning. I'm Playbook Deputy Editor Zach Stanton. It is Thursday, February 1st,

and here's what's driving the day. Last night, the House passed a $78 billion tax package

that expands the child tax credit, a priority for Democrats, while restoring a trio of tax breaks

for businesses, a priority for many Republicans.

Now, if that sounds like an odd moment of bipartisanship, that's because it is.

The bill was hammered out between House Ways and Means Chairman Jason Smith, who's a Republican

from Missouri, and Senate Finance Chairman Ron Wy Smith, who's a Republican from Missouri,

and Senate Finance Chairman Ron Wyden, who's a Democrat from Oregon.

And it passed on a 357-70 vote, with the no-votes coming from a coterie of progressives on the left and conservatives on the right. Now, it's a big win for House moderates and for Speaker

Mike Johnson, whose brief tenure has seen him embarrassed on occasion by intransigence from his

party's right flank. The bill now heads to the Senate, where it faces a major obstacle,

with key Republican senators indicating their strong opposition to the legislation.

Our own Ben Guggenheim, citing a senior Republican aide, reports that the Senate is unlikely

to move on the package until March. Now, it is, as I mentioned, February 1st in an election

year, and for true political obsessives, that means one thing. The FEC

filing deadline has passed, allowing us to pop the hood of every major congressional, Senate,

and presidential campaign in the country, and get a real sense of where things stand in the

dash for cash. Joining me to talk about what we're learning from those reports is campaign reporter Zach Montalaro.

Good morning, Zach.

Good morning, Zach.

I love the sound of that.

So let's start with the big takeaways.

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