–Incoming House Majority Leader: Will Lead A ‘Cut And Grow Majority’
–Vows Early Bid To Repeal Health Care Law
–House GOP To Offer Weekly Spending Cut Bills
–Wants To Work With Obama on Tax Reform, Spend Cuts

By John Shaw

WASHINGTON (MNI) – Incoming House Majority Leader Eric Cantor said
Tuesday that House Republicans will push a “cut and grow” legislative
agenda, vowing weekly bills to cut federal spending.

At a briefing a day before he becomes the House Majority Leader,
Cantor avoided a direct answer to a question on how House Republicans
will approach coming debt ceiling legislation.

Cantor said the early weeks of Congress will focus on passing a
bill in the House to repeal the new health care law, cutting spending
and reviewing regulations.

He said that House GOP leaders are “not at that (debt ceiling)
vote” now, but will find a “legislative vehicle” to move that bill when
it is needed.

A congressional vote to increase the debt ceiling is expected by
the spring.

Cantor said “quick action” is needed in the House to repeal last
year’s health care law.

“We need to repeal it … . Most Americans want to see this health
care bill gone,” he said.

Senate Democratic leaders have said the repeal bill, if passed in
the House, will not be taken up by the Senate.

Cantor said that after the House votes on the health care repeal,
it will examine government regulations and consider weekly spending cut
bills.

“We got to get serious about cutting spending,” he said, adding
“everything is going to be on the table.”

House Republican leaders have said they want to cut discretionary
spending by about $100 billion a year, but Cantor repeatedly declined
to even mention broad areas where such savings might be found.

Cantor said the three pillars of the House GOP agenda are creating
jobs, cutting spending and shrinking the size of the government.

Cantor said no decisions have been made on completing work on the
fiscal year 2011 budget. The government is operating under a stop-gap
spending bill that expires March 4. House GOP leaders have said they
would like some of the FY’11 discretionary budget to fall to FY’08
levels.

Cantor said Republicans would like to work with President Obama in
cutting spending, overhauling the tax code and eliminating earmarks from
the federal budget.

The new Congress will convene Wednesday, with a Democratic majority
continuing in the Senate and a new Republican majority in the House.

Rep. John Boehner, a Republican, will become the new House Speaker.
Senate Majority Leader Harry Reid, a Democrat, will retain his position
as the Senate’s leader.

Cantor will serve as the House Majority Leader.

** Market News International Washington Bureau: 202-371-2121 **

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