House Speaker Paul Ryan said Tuesday he wants his chamber to pass a tax bill by Thanksgiving, an ambitious goal as Republicans have not yet released a draft tax plan.
Following Senate passage on a "slightly slower track," Ryan told reporters he still aims to have a bill signed into law by the end of the year.
The push to overhaul the tax system could take a significant step as soon as Thursday, when the House considers the Senate budget resolution. The Senate resolution unlocks a reconciliation tool that would allow the tax bill to pass with only 50 Republican votes in the Senate.
"Adopting this budget is another sign of the real momentum for tax reform," Ryan said.
The tax-writing committees will craft a bill following the budget's passage. They could release a draft plan as soon as early next month.