WASHINGTON (NBC News) – A newly-introduced bill that would drastically change the country’s system for people who want to legally immigrate to the U.S. was quickly criticized as an economy killer, racially-motivated and an attack on U.S. values, but also was hailed by supporters.

“This is not a conservative bill,” said Alfonso Aguilar, executive director of the Latino Partnership for Conservative Principles. “I think it’s horrible legislation. It will take us back to the years when preference was given to people from northern Europe.”

He said the bill is discriminatory because it shows preference for people who speak English and are high skilled, meaning the country will discriminate against people who are poor and people from the Southern Hemisphere. “I’m not sure it’s racist, but it clearly is trying to exclude certain types of people.”

Mario H. Lopez, president of the Hispanic Leadership Fund, which supports conservative principles such as limited government, blasted the bill, calling it “wrong on substance” He said it will fail at its stated goals of raising wages and creating “skills-based” immigration.

The 1965 Immigration Act replaced the country’s immigration quota system that was based on national origin with a system meant to reunify families and attract skilled labor.