It's doubtful if it comes back with an amnesty/guest worker attached it'll even get past the conference committee. Then we're back to square one if they can't agree on the enforcement issues.
I'm not so sure. Jim Sensennbrenner who will head the House negotiating team has come out strongly against any sort of amnesty and made it very clear that it would be unacceptable but if you read his words carefully he all but endorsed a guest worker plan in the mold of Cornyn/Kyl that forces people to apply for guest worker status from outside the country.
Cornyn/Kyl is a world better then the McCainneddy Shamnesty because it does suppossedly require the guest to leave and it provides no path to citizenship for lawbreakers. But it has some really bad stuff in it too. Cornyn/Kyl is still an amnesty in the sense that it does not force people to leave for five years after it goes into effect. It allows UNLIMITED numbers of guests to come every year. And it throws EVERY AMERICAN JOB open to competition and it has no mechanism for protecting the prevailing wage so no matter what your job is you had better be prepared to take a pay cut or train your Indian guest worker replacement. Apparently there are those in the Republican Party who think every job is a job that Americans just won't do. And of course for it to work, it will be dependent on enforcement and our government has yet to demonstrate that they have the political will to make anybody go home.
My bet is that very few guests will ever be made to leave and that any guestworker plan will eventually evolve into an amnesty. I am therefore opposed.