Angus Taylor will take his migration plan to Liberal and National MPs at a joint party room meeting on Tuesday morning. He needs their sign-off before unveiling it in public. The headline figure is a cut of about two-thirds.

Reports say the Coalition would drop net overseas migration to around 100,000 in the first year after an election. It would then settle between 130,000 and 225,000. The plan links migration to housing.

The housing minister would report annual home completions to parliament. That number would set the migration ceiling for the next year. It is the third migration policy released by the top parties in two months.

Labor and One Nation laid out their plans weeks earlier. Taylor is pushing the plan as One Nation gains ground in the polls. The party room meeting comes at a tense moment for the Coalition.

The Nine newspapers reported the 100,000 figure. The Guardian put the later range at 130,000 to 225,000. Taylor is the third to move after Labor and One Nation.

The party room meeting comes as polls slide for the Coalition.