This is the official statement from RNC.org:

President Bush has proposed a new temporary worker program to match willing foreign workers with willing U.S. employers when no Americans can be found to fill the jobs. The program would be open to new foreign workers, and to the undocumented men and women currently employed in the U.S. This new program would allow workers who currently hold jobs to come out of hiding and participate legally in America's economy while not encouraging further illegal behavior
You'll notice that his "guest worker" program includes "the undocumented men and women currently employed in the U.S." I thought the word "guest", meant you were invited? He's talking out both sides of his mouth. If you reward illegal aliens with legal residency, that IS amnesty. It's also obvious to everyone, but Mr. Bush, that even if the "guest worker" program required those aliens in it, to return to their home country after a fixed period of time; most would not return and remain here illegaly.