Negotiations over the so-called "fiscal cliff" continued over the weekend focusing on spending cuts, taxes and the farm bill.
Sources close to the talks told Politico there is still no sign of a breakthrough.
President Barack Obama met with Congressional lawmakers in a 65-meeting meeting at the White House Friday and called the discussions "moderately optimistic."
The President and members of Congress are trying to hammer out a deal before January 1, to avoid automatic spending cuts and tax increases.
More from GlobalPost: No deal after meeting between Obama and Congressional leaders
Congress returns on Sunday, and the Senate leaders could present a deal but, according to ABC News, there is no concrete proposal as of yet.
Senate Majority Leader Harry Reid (D-Nev.), Minority Leader Mitch McConnell (R-Ky.) worked on Saturday with their aides to hammer out the details of a deal, Politico reported.
In his weekly radio address, Obama warned "we just can’t afford a politically self-inflicted wound to our economy,” the Hill wrote.