The US magazine said the full plan would be presented in early June, saying it contained very difficult items.
The magazine obtained a document from Trump's adviser and the person in charge of the plan, Jared Kouchner, adding that it would break key issues that the Palestinians hold.
"We cannot leave things as they are, our goal must be to change things for the better, and sometimes we have to take the strategic risk of breaking the barrier of some things to reach the goal, which we will work to succeed it between the two sides," Kouchner wrote in the paper.
"Removing UNRWA from the table will not be only by nullifying the situation of the Palestinian refugees and their return," Kouchner said.
"It is very important to make a sincere and genuine effort to disrupt UNRWA's activities because the organization perpetuates the incorrect and ineffective status quo and does not help advance peace," he said.