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While Washington is stuck on dealing with money issues and gun control, we may see some movement this week on immigration.

A big announcement's set for later today by a small group of Democrats and Republicans who think they've come up with a compromise.

It's far from final, but this four-page plan being unveiled by Democrats and Republicans is a first step. "To finally, in this country, have an immigration law we can live with," said Senator Dick Durbin, (D) Illinois.

Border patrols, employer verification, a guest worker program, green cards for math and science grads, and a path to citizenship for illegal immigrants. "Americans support it, in poll after poll. Secondly, Latino voters expect it. Thirdly, Democrats want it. And fourth, Republicans need it," said Senator Bob Menendez, (D) New Jersey.

Both sides need it. For President Obama, immigration reform is a first-term promise not kept. "I do think there is room for us to come together and finally get something done," said Former Obama Deputy Campaign Manager, Stephanie Cutter.

For Republicans, it could be key to winning in 2016. Last year, 70 percent of Hispanics voted for President Obama. "We are losing dramatically the Hispanic vote, which we think should be ours for a variety of reasons," said Senator John McCain, (R) Arizona.

The President will talk about it in Las Vegas. Some Republicans remain skeptical. "Is he looking to play politics or does he want to solve the problem? We don't know the answer to that yet," said Rep. Paul Ryan, (R) Wisconsin.

The President speaks Tuesday. Lawmakers lay out their reform plan today.