Via the Washington Post

House Majority Leader Eric I. Cantor (R-Va.) plans to step down from his leadership post by the end of July setting off a weeks-long scramble for the number two leadership post, according to three Republicans familiar with his plans.

Cantor will formally announce his plans later Wednesday in a meeting with his House Republican colleagues in the basement of the U.S. Capitol.

Good move. This along with Cantor saying he will not launch a write-in campaign speak well of the man.