A HUGE report came in this morning from Axios regarding Paul Ryan’s future as Speaker of the House and as a Congressman:

House Speaker Paul Ryan has told confidants that he will announce soon that he won’t run for reelection in November, according to sources with knowledge of the conversations.

Why it matters: House Republicans were already in a very tough spot for the midterms, with many endangered members and the good chance that Democrats could win the majority.

One of Washington’s best-wired Republicans said:

“This is a Titanic, tectonic shift. … This is going to make every Republican donor believe the House can’t be held.” The announcement will help Senate Majority Leader Mitch McConnell (R-Ky.) in his fundraising because “the Senate becomes the last bastion,” the Republican said.

SPECIAL REPORT: $ Three Things YOU Absolutely Need to Know About Money $ [CLICK TO READ THIS REPORT]