Subscribers only but I'm sure you can find it elsewhere if you're interested. Basically the current proposal is that if you want to stay in the country you wait 10 years and pay a "substantial" fine.
I used to be a McCain supporter but then I remembered he picked Palin as his running mate.

Edit: I don't disagree a "fine" is reasonable. But.. will the people who have to pay the fine think so? Will they do it? Will it just lead to more folks not pursuing citizenship? I think 'yes' to all these things. I think it's within American's best interest that folks be nationalized if they are gonna stay here (and that's pretty much the case) so efforts should be made to nationalize them - not deter them. But.. that's just my HO on an already off-topic post.