Eric Cantor will step down from his position as House majority leader on July 31. The news of his resignation follows his failure to win the Republican nomination for his seat on Tuesday. The Washington Post's Chris Cillizza reports:

Cantor, a Virginian, is the first sitting House majority leader to lose his bid for renomination. So far, it appears he will fill out the remainder of his House term.

The new Republican nominee who defeated him is college professor Dave Brat.

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