1) This bill will remove per-country quotas for Employment Based Green Cards. Just look at the backlog right now and imagine what would happen if these quotas were removed.
2) The cost of applying for H-1b will be INCREASED. What that means is that small companies and start-ups who struggle with hiring engineers will have to pay more for each one of them. It used to be 2-3K/application and for a small company it might be pretty substantial. At the same time companies like Wipro and Infosys will not even notice this increase.
3) The bill does not really help people who graduated here to STAY in the US. Yes, it will make it easier for them to get a visa, but what they really need is their green card. I was on H-1b for many years and the only thing I wanted during these years is to get my green card ASAP and start my own business.
Take a look at Canada's startup visa that just was introduced. They bring new jobs to Canada by giving permanent residency to people who want to start businesses and CREATE jobs (not take the existing ones). Current US bill will NOT allow entrepreneurs to stay in the US, it will only help to bring more cheap labor from overseas, but will not solve the problem of talented people leaving the country.