Cantor: Cost-cutting will offset money spent on earthquake

Mineral, Va. was the town closest to the epicenter of Tuesday's 5.8 magnitude earthquake and is located in Cantor's congressional district.

Virginia Governor Bob McDonnell (R) and Cantor spoke at the news conference together and previously toured Mineral to assess earthquake damage.

Cantor was in Israel at the time the earthquake hit and and flew back to the U.S. after he received the news.

Click here for more on Cantor's response to the quake.