WASHINGTON (CNN) -- CNN has obtained a copy of what a Senate aide described as an "early draft" of the Iraq resolution Sen. John McCain, R-Arizona, is circulating among his colleagues.

While acknowledging that "past mistakes in U.S. strategy" have led to a "dire security situation in Iraq," it presents 11 different "political, economic, and military benchmarks" the Iraqi government "must make visible, concrete progress toward meeting."

The benchmarks include: taking over security in all provinces "in a timely manner;" "disarming militias and ensuring security forces are accountable to the central government;" distributing oil profits to all Iraqis "in an equitable manner;" "conducting provincial elections;" and ensuring that billions of dollars in reconstruction funds are distributed to Sunni neighborhoods in Baghdad and the largely Sunni Anbar Province.

The resolution does not enumerate any consequences if the benchmarks are not met. It says only that "if the Iraqi government does not follow through on its promises, it will lose the support of the American people and the people of Iraq."

The resolution "might be a way of calming the concerns that many of our colleagues have" by establishing specific benchmarks and increasing congressional oversight, McCain explained Thursday.

Read resolution draft