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Cantor proposes spending reduction to pair with Boehner plan

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Posted: Thursday, December 20, 2012 1:32 pm | Updated: 5:09 pm, Tue Dec 25, 2012.

In a legislative move designed to address deficit reduction and put the burden to avert the Jan. 1 fiscal cliff on the White House and Senate Democrats, House Majority Leader Eric Cantor, R-7th, is sponsoring a $237.8 billion spending reduction bill.

Cantor's Spending Reduction Act of 2012 is designed as a companion to House Speaker John Boehner's so-called "Plan B" legislation that would keep in place Bush-era tax cuts to the middle class but raise revenues by allowing them to expire for Americans with incomes above $1 million.

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