What you need to know about today's special election in NY

From Taegan Goddard:

Today's special election in New York's 26th congressional district between Kathy Hochul (D), Jane Corwin (R) and Tea Party candidate Jack Davis "has been framed as the country's first unofficial referendum on Republicans' plan to reshape Medicare. This referendum, however, could send ripple effects deep into 2012," Roll Call reports.

Two recent polls found Hochul leading Corwin, with third-party candidate Jack Davis drawing a small, but significant, portion of the electorate. A GOP loss "would be embarrassing for the GOP at best, while giving Democrats a tested and effective strategy to target swing districts in 2012 at worst."