As you probably know, the federal government is up and running today, thanks to a last minute deal reached by President Barack Obama and congressional leaders late Friday night.

Lawmakers will vote later this week on an agreement that would cut more than $38 billion out of the current budget. UPDATE (1:30 p.m.): A knowledgeable source says that Title I, special education, and Pell Grants were flat-funded.

But the deal includes money for at least two education programs: D.C. vouchers (a priority of Rep. John A. Boehner, the Speaker of the House) and $700 million for a new round of Race to the Top, sources say. No final word yet on whether that money would be for states, districts, or both, or whether it could be used to support the Race to the Top assessment competition. We speculated awhile back about how a much smaller sum of money would fundamentally change the program, which got $4 billion under the stimulus.

Of course, lawmakers still have to approve the bill before Race to the Top 2.0 can become an official reality.