This Jerusalem Post article argues that the U.S. should revive the old "Jordanian option" of returning the West Bank to Jordan, and sweeten the deal for Jordan by giving it the lower two-thirds of Iraq. The remainder of Iraq would become an independent Kurdistan.
Without getting into many of the problems of that scenario (especially for Turkey, which would not want an independent Kurdistan on its border), I'll just say that the scenario is extremely unlikely; the Hashemites want more Palestinians in their territory, having learned the futility of trying to deal with Arafat back in 1970. I think it's more plausible that Jordan would be willing to give up some territory as part of a new Palestinian state, if that meant they'd be able to shed Palestinians along with the territory. The article is an audacious attempt to meet some real concerns (the viability of Jordan, the inability to trust the Palestinians with a state, but unlikely to actually occur. The writer himself indicates that the idea isn't presently being considered.