In a Wednesday speech in the White House's Roosevelt Room, President Trump endorsed a bill aimed at reforming the U.S. immigration system by scaling back the number of immigrants entering the country.

The Reforming American Immigration for Strong Employment (RAISE) bill, introduced by Sens. Tom Cotton, R-Arkansas, and David Perdue, R-Georgia, establishes a "points-based system for acquiring a green card," according to Mr. Trump, while also preventing immigrants from collecting welfare.

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"The RAISE Act will reduce poverty, increase wages and save taxpayers billions and billions of dollars," Mr. Trump said.

The bill aims to alter the U.S. immigration system to favor immigrants who speak English, have financial stability and demonstrate useful skills.

"This legislation demonstrates our passion for struggling American families," Mr. Trump said, adding that the change in immigration policy "puts America first."

The president asserted that the current immigration system "has not been fair to our people, to our citizens, to our workers."