TPMDC's daily update on the biggest legislative initiatives on the Hill:

• Credit Card Reform:The Senate passed the Credit Card Accountability, Responsibility and Disclosure Act today by an overwhelming vote of 90-5. The roll call is here. The legislation lacks some key progressive provisions, such as a cap on interest rates, but has nonetheless received plaudits from the progressive Campaign for America's Future.
• Climate Change: After hitting some early snags, the markup process for the Waxman-Markey energy bill begins in earnest today. Republicans opted not to invoke a delay tactic that would have required the entire 946 page bill to be read aloud before the committee proceeded to debate, but they do plan to offer up to 449 amendments to the bill, which should make this a grueling week for the Energy and Commerce Committee
• Health Care: According to Jon Cohn, forthcoming estimates from the Congressional Budget office will suggest that comprehensive health reform won't cost as much as some observers expected. That's good news for the prospects of passing legislation--but, as a package released today by the Senate Finance Committee shows, coming up with the money won't be all that easy.