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Republicans have expressed a new willingness to consider an overhaul of the immigration system in light of the drubbing that Mitt Romney took with Hispanic voters in the election. House Speaker John BoehnerJohn Andrew BoehnerThe two-party system is dying — let’s put it out of its misery One year later, neither party can get past last year's election White House strikes back at Bushes over legacy MORE (R-Ohio) said he’s confident that the parties can find common ground on the issue.

The Daily Caller first reported the Senate draft proposal and has more details of the plan here.