US Secretary of State Mike Pompeo revealed on Wednesday that the Trump administration will soon announce its so-called “deal of the century” peace deal for the Palestinian-Israeli conflict. “We are now working with many parties to share what our vision (is) as to how to solve this problem,” Pompeo told a US Senate hearing where he was pressed for a response if the administration still backs a two-state solution to the conflict. He said the administration “has been working on a set of ideas” for Middle East peace “that we hope to present before too long,” adding that he hoped they would provide a basis for discussions on resolving the conflict. Democratic Senator Tim Kaine asked Pompeo, a former Republican member of the House of Representatives, if he thought a peace agreement including one state for Israel and one state for the Palestinians was an outdated idea. “It’s certainly an idea that’s been around a long time, senator,” Pompeo responded. “Ultimately the individuals in the region will sort this out.” Israeli Prime Minister Benjamin Netanyahu secured a clear path to re-election on Wednesday, and a record fifth term in office, with religious-rightist parties set to hand him a parliamentary majority. President Donald Trump said Wednesday that Netanyahu’s victory gave a "better chance" to the yet to be unveiled US peace plan. "Id like to congratulate Bibi Netanyahu," said Trump after nearly complete results put the incumbent premier in position to form a coalition. Trump predicted a boost to his administrations promised plan for a settlement to the Palestinian-Israeli conflict. "The fact that Bibi won, I think well see some pretty good action in terms of peace," Trump said. "Everybody said you cant have peace in the Middle East with Israel and Palestinians. I think we have a chance and I think we now have a better chance," he added. Trump has enthusiastically backed Netanyahu, making controversial gestures of support to the hawkish leader, including recognition of Israeli sovereignty in the occupied Syrian Golan Heights. During his electoral campaign, Netanyahu said he could annex Jewish settlements built in the Israeli-occupied Palestinian West Bank -- a move that would seek to formalize Israeli control over parts of the supposedly future Palestinian state. He also insisted last week that he would refuse removal of any Jewish settlements built inside occupied Palestinian land as part of any peace plan. He said he told Trump "there shouldnt be the removal of even one settlement."