Without a provision to account for recent grads, this is also a terrible bill.
Recent grads are going to be competing against people with years of experience, and the pay is going to reflect this. That means there's less reason for kids to go to school in the US, since they're going to have to leave, or if they do go, we lose that talent. They might not be paid as much as someone coming in with more experience, but they might ultimately provide more long term value to the country.
Ideally I'd like a new visa without a lottery system that basically guarantees graduates of US universities a chance to live and work in the country after graduation.
Why in the world should we institute something that would result in brain drain?