House Democrats are preparing to huddle Tuesday afternoon in a meeting that could help to determine whether an impeachment inquiry against President Donald Trump moves forward with party leaders’ support.

Reports that Trump pressed Ukraine to investigate former Vice President Joe Biden and his son have given new life to calls to impeach the president.

Read:Trump suggests he discussed Biden with Ukraine’s president, prompting new push for investigation.

House Speaker Nancy Pelosi has been quietly sounding out top allies and lawmakers about whether the time has come to impeach Trump, the Washington Post reported late Monday. Asked about impeachment, the California Democrat said she’d have an announcement Tuesday afternoon.

Trump has denied any wrongdoing related to Ukraine. Speaking to reporters on Tuesday at the United Nations, he called the prospect of impeachment “ridiculous.”

Trump said Democrats were talking about impeachment because they can’t beat him in an election.

Pelosi is first scheduled to meet with committee chairmen Tuesday, followed by a meeting of all House Democrats. Politico reported House Democrats are moving toward a vote Wednesday on a resolution condemning Trump’s Ukraine call but it will not yet call for his impeachment.

More than 150 House Democrats now support an impeachment investigation, which is well over half of the 235-member caucus. As The Wall Street Journal notes, however, that’s not enough to support a House vote to impeach Trump, which would require a majority of the full House — or even a House-wide vote to open an investigation.

To be sure, impeachment doesn’t necessarily translate to a removal from office. Bill Clinton was impeached by the House in 1998 but acquitted by the Senate. Clinton’s impeachment had very little impact on the stock market.