Earlier this year, Director Roland Emmerich claimed that Will Smith would not be returning for an Independence Day sequel because he was too expensive. Well, it may turn out that Roland Emmerich is a first class flip-flopper! God I hate flip-floppers!
Emmerich said in an interview with Digital Spy:
I sometimes say no, Will Smith will not be in it because he didn't want to do it at first. Now we have a meeting planned, we want to talk about it again.
The shifty Kraut added:
Anything can happen.
If Smith does return, he will likely be joining at least some of his former castmates. Emmerich has previously claimed that Bill Pullman would reprise his role as President Thomas Whitmore, but I don't know what to believe anymore. Also, if Randy Quaid hasn't been murdered by the Hollywood Star Whackers, he's probably available to reprise his role as the crazy drunk, a part he's been researching for the past twenty years. (Source)