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Lou Dobbs Report. . .

Turning to another national security issue, our illegal immigration and border security crisis, leaders of the Senate today announced they've approved a new compromise agreement that would ultimately give amnesty to millions of illegal aliens in this country. The agreement is supported by corporate America, lobbyists, of course, and special interests who are determined to allow illegal aliens to enter the country unlawfully and to remain.

http://transcripts.cnn.com/TRANSCRIPTS/0605/11/ldt.01.html

About 1/2 way down transcript:
LISA SYLVESTER, CNN CORRESPONDENT(voice over): Senators Bill Frist and Harry Reid reached a gentleman's agreement that paves the way for the Senate to resume immigration reform Monday.

SEN. HARRY REID (D-NV), MINORITY LEADER: This is going to take a lot of work. We have a lot of amendments. This is not a -- this is not a two or three-amendment bill.

SEN. BILL FRIST (R-TN), MAJORITY LEADER: The process that has been laid out is one that we both feel is very fair.

SYLVESTER: Under the compromise, Reid and Frist agreed to take up the Hagel-Martinez bill that creates a three-tiered system. Illegal aliens who have been in the United States for five years or longer would be given amnesty. Those here between two and five years would be allowed to work and eventually gain citizenship. Those here less than two years would be told to leave.

Representative Tom Tancredo says there will be rampant fraud, adding, "No illegal alien with half a brain would admit they came here after 2004."

REP. TOM TANCREDO (R), COLORADO: I think that this is a lousy deal, and that I think that Senator Frist was bullied into it by Senator Reid, who essentially was allowed to set the rules.