House Republicans challenge Obama to join them in cutting spending and overhauling tax code

WASHINGTON (AP) — On the brink of power, House Republicans challenged President Barack Obama on Tuesday to join them in a drive to cut federal spending, ban earmarks for favored projects and overhaul the nation's tax code.
At the same time, incoming House Majority Leader Eric Cantor, R-Va., conceded the new GOP majority intends to bypass its own new rules when it votes next week to wipe out the health care law approved by Democrats in 2010.
"We just need to repeal it," Cantor said of the effort to fulfill one of the party's main campaign promises from last fall.
Republicans, their ranks expanded by tea party-backed freshmen, take control of the House when the 112th Congress convenes at noon on Wednesday. One of the first orders of business will be the election of Ohio Republican John Boehner as speaker, replacing Democrat Nancy Pelosi.
Across the Capitol, Democrats retained their majority in the November elections. But the 60 seats they controlled two years ago — enough to push through much of Obama's agenda — will fall to 53.