On this day in 1766 Parliament repeals the controversial Stamp Act, which was enacted on the colonies to pay for the French and Indian War. Opposition to the Act unified the colonies and laid the foundations of a political organization that would be necessary in the years to come. On to today's top stories:

"Race Uproar Offers Test for Obama" (John Harris and Jim VandeHei, The Politico) It's being called the most important speech in Obama's career. It might be that, but even if Obama hits it out of the park this morning, he still might not free himself of Pastor Wright.

"Wall Street Crisis Forces Candidates to Shift Their Focus" (Jonathan Weisman and Shailagh Murray, Washington Post) As the markets have continued to tumble, the candidates have been talking about race, the war and nearly everything else but... It now appears that the economy will factor heavily into the general election.

"Florida Democrats Scrap Revote Idea" (Lesley Clark and Beth Reinhard, Miami Herald) In a blow to the Clinton campaign, opposition to Florida's re-vote plan has killed the idea indefinitely.

"Clinton Seeks to End War 'We Cannot Win'" (Joseph Curl and Donald Lambro, Washington Times) Meanwhile, Clinton went after her two principle opponents in a speech on the war yesterday.

"Bill Clinton Says Critics Distorted Remarks About Obama" (Julie Bosman, New York Times) PR 101: Perhaps no less bruised and battered than the candidates themselves, Bill Clinton is trying to touch up his image a bit.

"Liberals to Spend $150 Million on '08" (Jim Kuhnhenn, Associated Press) The 527s, the "shadowy groups," George Soros, they're all back and ready to buy this one for their side.

"Obama Eyes White Suburbs of Philadelphia" (S.A. Miller, Washington Times) Obama will likely capture the large urban area of Philly, but he needs broader support if he has any hope of catching Clinton in PA.

"Clinton Recalls Bosnia Trip As Dangerous" (Associated Press) Who would have thought Sinbad of all people could so severely hurt the Clinton campaign? Having accompanied Clinton on her trip to Bosnia as First Lady, which Clinton has used to buff her foreign-policy credentials, Sinbad says it was not as dangerous as she makes it sound.

"Leaders Get First Glimpse of Dems' Do-Over Proposal" (Dawson Bell and Todd Spangler, Detroit Free Press) With a Florida do-over on the fritz, Michigan Democrats are struggling to keep hope alive.

Get today's other election stories at RCP's Politics and Election page.