Benjamin Netanyahu is under heavy pressure to move forward with the plan, which could lead to critical negotiations on Israel’s final borders with a future Palestine.

Although Israeli officials say the plan includes an unprecedented gift of 20 stealth warplanes to Israel, Netanyahu faces opposition from hard-liners inside his coalition government who oppose limits on settlement construction in principle and fear it will create pressure for further concessions.

Palestinians didn’t embrace the plan either, since the proposed building freeze wouldn’t include east Jerusalem, their hoped-for capital, and Israel would be rewarded for what they see as a minimal gesture.

It appeared increasingly unlikely, however, that both sides, wary of upsetting Obama, would risk turning down the package. Officials said Netanyahu’s 15-member Security Cabinet — a grouping of senior Cabinet ministers — would soon meet to vote on the proposal, possibly as early as Wednesday. The measure appeared poised to squeak through 7-6, with two ministers abstaining.

Opponents were gearing up as well. Yuli Edelstein, a Cabinet minister from Netanyahu’s Likud Party, convened a group of hard-line lawmakers and settler leaders to battle the proposal.

“We have 48 hours to operate,” Edelstein said. “Any decision made by Israel is a one-way decision, and we have no way out.”

Adding pressure on the Israeli leader, Obama commended Netanyahu late Sunday for considering the slowdown. “It’s not easy for him to do, but I think its a signal that he is serious,” he said.

The US has been working for more than a month to revive Israeli-Palestinian peace talks, which opened with great fanfare at the White House in early September but broke down weeks later with the expiration of a 10-month Israeli slowdown on settlement construction.

The Palestinians say they cannot return to the negotiating table now that Israel has resumed settlement construction.

They say it is a sign of bad faith if Israel insists on building on captured territories that the Palestinians claim for their future state.