Meanwhile, President Trump reportedly told advisers in recent days that a government shutdown could benefit him politically, the Washington Post reported last week.
Senate Majority Leader Mitch McConnell, R-Kentucky, said on ABC's "This Week" on Sunday that a shutdown over the issue is "ridiculous" because protections for Dreamers don't expire until March.
Republicans will need the support of Democrats to get the bill through the Senate and potentially the House, where conservatives are anxious that an end-of-the-year bill will get loaded down with Democratic priorities.
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The bill will give Republicans and Democrats time to debate a larger funding package.
The GOP will need Democratic votes to push the spending bills through Congress, another reason the pathway is unclear for averting a closure just weeks before the start of the 2018 election year.
The Oval Office sit-down will come after Pelosi of California and Schumer of NY pulled out of a planned meeting on November 28 after Trump tweeted, "I don't see a deal!" The cancellation came after Trump took to Twitter to vilify their stances on taxes, immigration and crime and say he saw no prospects for an agreement, and the standoff has exacerbated bitter feelings on both sides. "We're glad the White House has reached out and asked for a second meeting", Pelosi and Schumer said in a statement, per CNN. And in what seemed an attempt to isolate the president, they said they hoped he'd be amenable to an agreement "as negotiations with our Republican counterparts continue". In a deal to raise the limits, defense hawks want a sizable increase in military spending. "We have to provide funding for community health centers and CHIP, as well as relief for the millions of Americans still reeling from natural disasters".
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Democrats and some Republicans are also demanding a plan to protect immigrants who arrived illegally in the U.S.as children. Although they had planned to attend, they changed their minds after President Trump tweeted his doubts that they'd come to any agreement.
Some Democrats have hinted at a possible shutdown in order force legislative action on the Deferred Action for Childhood Arrivals (DACA) program for so-called "Dreamers" who were brought to the USA illegally as children.
McConnell said Sunday that a CHIP extension and disaster aid would be addressed in a spending bill before December 22, but not immigration.
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Lawmakers in the House could vote on the short-term legislation as early as Wednesday. They have modest differences over items like whether to reduce or fully repeal the tax on the most expensive estates.