House Republican Leader John Boehner (R-OH) and Republican Whip Eric Cantor (R-VA), on behalf of House Republicans, today sent a proposal to President Obama outlining $375 billion in taxpayer savings over the next five years.

The proposal follows a meeting at the White House on April 24, during which Republican Whip Cantor brought up the President's request to Cabinet secretaries to find $100 million in savings, noting that much more could be done on behalf of taxpayers. In response, President Obama asked House Republicans to develop of list of areas where the federal government could save more money.

Find the letter and the plan here.