WASHINGTON – The Senate passed a sweeping healthcare reform bill Thursday morning, bringing an overhaul to the U.S. healthcare system just one vote away from reality.

The $871 billion Senate bill, passed on party lines by a 60 to 39 tally, will now have to be reconciled with the House bill, passed Nov. 7.

When differences in the two bills can be resolved, a final vote of approval from Congress is all that stands in the way of President Barack Obama's signature for the bill to become law.

White House officials have said the president hopes to have the bill on his desk before his State of the Union speech in late January, though some on Capitol Hill speculate that deadline will be difficult for Congress to meet.

The Senate bil l– some 2,000 pages long – is expected to expand coverage to 31 million Americans and includes amendments that were added this week as Senate leaders scrambled to cut deals and carve out measures to garner the 60 votes needed to prevent a Republican filibuster.

Republicans balked at the lack of time they were given to debate the bill, and none voted to approve it.

CNN reported that Sen. John Ensign (R-Nev.) tried to derail the bill on Wednesday, claiming its mandate that all Americans purchase coverage is not authorized under the law and violates the Fifth Amendment, which prohibits private property from being taken for public use without just compensation.

The Senate voted down his complaint.

The bill holds several obstacles that observers expect will be difficult to resolve in conference, including the use of federal funding for abortion, a public health option and the price tag.

The House and Senate bills agree on a number of measures.

Both mandate that all Americans buy insurance or face fines, both call for subsidies for low-income families to buy insurance, and both would limit out-of-pocket expenses and prevent insurance companies from denying coverage due to pre-existing conditions.

Both bills would expand Medicaid coverage to include more poverty-level Americans and create health insurance exchanges where uninsured Americans and small companies could buy health insurance at competitive prices.

Senate leaders have been criticized for watering down their bill to gain votes, including eliminating a public healthcare option. House leaders have said they will not compromise on issues such as the public option, but more recently have softened that stance.

President Obama is pleased with the progress, according to White House Press Secretary Robert Gibbs. The Senate bill contains 95 percent of what Obama had hoped would be included, Gibbs said at a press conference Tuesday.

The president looks forward to helping the bill through the negotiation process and signing it as soon as possible, Gibbs added.

"I think the role that he and his team have played up to this point has gotten us to the point where – in all honesty, healthcare is not a matter of – healthcare reform is not a matter of 'if,' healthcare reform now is a matter of 'when.'  And I think the president is enormously encouraged by that," Gibbs said.