Paul Ryan: Tax reform will happen this year

House Speaker Paul Ryan said Tuesday U.S. tax reform will happen this year.

Speaking before the National Association of Manufacturers, Ryan said an emphasis would be placed on "charitable giving, buying a house and saving for retirement."

“At the very least we want to remove that bias against savings and investment so that people can save for the future," he said.

Ryan also said a plan is in the works to eliminate the estate tax.

Read more from Fox Business.