He's in talks to play the President of the United States in White House Down, Roland Emmerich's action-thriller described as Die Hard in the White House. As that description implies, in the film, the White House falls under the control of a paramilitary terrorist group, and only one single-dad/Secret-Service-guy can stop them. That man: Channing Tatum, who was cast as the film's single dad savior last month.
As I'm duty-bound to remind you every time there's any White House Down news, Gerard Butler is also planning on saving the President in Olympus Has Fallen, a film that has an extremely similar premise but a slightly loftier title. Since White House Down has now turned Foxx's allegiance against his Law Abiding Citizen co-star Butler, it's now Olympus's move to attempt something similar against Tatum. Prepare to be skeptical but eventually wowed by President Jonah Hill.
UPDATE: According to Deadline, Maggie Gyllenhaal is in talks to play the film's female lead.