Senator Scott Brown (R-Mass.) Just posted this on his Facebook page:

Heading back to dc. Just learned that the Pres. reached out to Senate GOP leadership with a proposal. It is the first such proposal to be put forth. Eager to see what it is. Hope it is serious.

I spoke to the Minority Leader’s office, and they are being tight-lipped:

“Last night, the President called Sen. McConnell (the first Democrat to do so on the fiscal cliff since Thanksgiving) and other leaders to discuss the need for the Senate to act. The Leader is happy to review what the President has in mind, but to date, the Senate Democrat majority has not put forward a plan. When they do, members on both sides of the aisle will review the legislation and make decisions on how best to proceed.”

Inside sources are reporting that Obama congressional leaders about the “fiscal cliff” on his way back from Hawaii. And that he will be sending something to Capital Hill today.

So far there is no information regarding what is in the deal,  But last week Obama said he would try for a smaller deal possibly extending rates on annual incomes below $1 million while allowing rates above $1,000,000  to rise (plan b?). The POTUS said that he would ask for an extension of unemployment benefits, but would hold off on spending cuts and raising the debt ceiling till after the new year begins.

This page will be updated as more details come out!