Watch CBSN Live

Trump urges House to speed up process to pass tax reform

Trump pushes for tax reform

President Trump and Vice President Mike Pence joined a conference call Sunday with House Republicans, urging them to adopt the Senate-passed budget this week in order to speed up the process to pass tax reform legislation.

"We are on the verge of doing something very, very historic," Mr. Trump said on the call, according to a GOP source.

Speaker Paul Ryan, R-Wisconsin, told members of his conference that he wants tax reform enacted by the end of the year and that passing the Senate's budget offers the best shot to achieve tax reform on that timeline, the source said.

President Trump applauds Senate passage of budget plan

The chairwoman of the House Budget Committee, Rep. Diane Black, R-Tennessee, told her GOP colleagues that she supports passage of the Senate budget this week to allow for quicker action on tax reform. The House had passed a different non-binding budget resolution in early October.

Mr. Trump is slated to huddle with Senate Republicans Tuesday to discuss the steps forward on tax reform.

On Monday, the president tweeted that there will be no change to 401(k)s.

View CBS News In