Mother Jones:
"Last week, Rep. Eric Cantor (R-Va.), the majority whip, announced with little fanfare the GOP's plan to introduce and vote on the bill. The legislation to repeal public financing was first floated in by Rep. Tom Cole (R-Okla.) in June 2009. But it wasn't until House Republicans added the elimination of the Presidential Election Fund, as it's officially called, to their 'YouCut' initiative, an online list of federal programs that citizens can vote in favor of cutting, that the bill gained momentum. Cantor's 'YouCut' site claims that cutting the program, which also funds party conventions, would save $520 million over the next ten years."