Sen. Lindsey Graham (R-S.C.) said Sunday that a bipartisan group of senators working on a proposal to overhaul the nation's immigration laws has reached a conceptual agreement.

Sen. Lindsey Graham (R-S.C.). Sen. Lindsey Graham (R-S.C.).

"I think we've got a deal, and we've got to write the legislation," Graham said on CNN's "State of The Union." Graham is part of a bipartisan group of eight senators working an effort to develop broad immigration reform legislation.

Business and labor leaders struck an agreement Friday on terms of a new guest-worker program, an issue that had been viewed as the last major matter over which the bipartisan group had yet to come to terms.

But Sen. Marco Rubio (R-Fla.), another member of the bipartisan group, said Sunday that while he was encouraged by reports of an accord between business and labor, the Senate group had yet agreed on a legislative package.

"Reports that the bipartisan group of eight senators have agreed on a legislative proposal are premature," Rubio said in a statement.

Graham, meanwhile, said the group would roll out its plan next week. He expressed confidence it could pass both the Senate and the GOP-controlled House.

"It's got to be written up. We haven't signed off; there's a few details yet. But conceptually, we have an agreement between business and labor, between ourselves. It has to be drafted; it will be rolled out next week" said Graham.