It is believed the company has offered a pay rise of 13% over three years
Talks between Luas drivers and management will resume today to try to resolve their long-running pay dispute.
If a deal is not reached, the next strike will take place on Thursday - with further action planned for the following Wednesday.
Ticket collectors and traffic supervisors settled on an agreement on Friday, which will be put to a ballot of staff next week.
It is believed the company has offered all staff a pay rise of 13% over three years.
That is around 5% less than the deal rejected by drivers last month.
Martin Wall is industry correspondent with the Irish Times.
He outlined some of the proposals to Newstalk Breakfast.