Story highlights The bill would transform how the US decides who can pursue permanent residency

Points are awarded for categories like age, English proficiency and salary

Washington (CNN) President Donald Trump on Wednesday got behind a bill to drastically cut legal immigration and replace current employment based visas with a point system.

The plan mimics systems used by Australia and Canada, which Trump has often praised, in awarding points to potential immigrants based on broad categories. The 140,000 visas available annually under this system would be distributed to the highest point-getters first.

Under the plan -- if approved by Congress, which will be a heavy lift -- the highest point-getting candidate, for example, not including special circumstances, would be a 26- to 31-year-old with a US-based doctorate or professional degree, who speaks nearly perfect English and who has a salary offer that's three times as high as the median income where they are.

Have an Olympic medal or Nobel Prize? That will help too.

A candidate must have at least 30 points to apply.

Read More