U.S. senators have proposed legislation calling for the creation of a $1.5 billion fund to combat modern-day slavery around the world through more aggressive law enforcement and prosecution of human traffickers.

The bipartisan End Modern Slavery Initiative Act of 2015 was introduced on Tuesday by senators Bob Menendez, Democrat of New Jersey, and Bob Corker, Republican of Tennessee.

Slavery and human trafficking are estimated to generate about $150 billion in annual profits from the exploitation of some 30 million people.

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