Reforming American Immigration for a Strong Economy Act or the RAISE Act This bill amends the Immigration and Nationality Act to: eliminate the diversity visa program; replace the current employment visa system with a skills-based point system; revise the worldwide level of family-sponsored immigrants, including by eliminating certain family-based immigration preferences; establish a 50,000 annual limit for refugees given permanent resident status; and create a nonimmigrant visa for parents of U.S. citizen children who are at least 21 years old. The bill prohibits an alien from being be naturalized if his or her sponsor has not repaid the federal government for all means-tested public benefits received by the alien during the five-year period beginning on the date the alien was lawfully admitted for permanent residence.