The officials say Cantor is expected to make a formal announcement of his plans later in the day at a closed-door meeting of the party's rank and file.
The decision would clear the way for a leadership shake-up just months before midterm elections with control of the House at stake.
Cantor's office declined to comment. The officials who described his plans did so on condition of anonymity, saying they were not authorized to pre-empt an official announcement.
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