REPORTS: ERIC CANTOR TO RESIGN IN JULY

Less than 24 hours after his stunning Republican primary defeat, Rep. Eric Cantor will announce his decision to step down from his position as House Majority Leader on July 31, according to multiple reports at the Washington Post and Politico.

Cantor's resignation will set in motion a scramble to replace him at the No. 2 spot in House Republican leadership. It comes one day after his shocking loss to Tea Pary-affiliated challenger Dave Brat in his district's Republican primary.

According to a source, Cantor will not seek a write-in campaign, meaning his 13-year run in Congress will come to an end in July. House Republicans will meet to discuss their chaotic leadership situation at 4 p.m.