Many of the actual details are not complete enough to be announced. There are two main pieces.
For 6 weeks of “paid leave”, the implementation is Mom would get six weeks of unemployment insurance as if she was unemployed. In North Carolina, that is capped at $350 a week – more than $0, but a lot less than employer paid maternity leave. The way unemployment works, the employer’s tax rate goes up to pay back the benefits.
In the other part, child care expenses (including taking care of elderly parents – the AARP likes that!) would become deductible up to the average cost in your state. In their example of a family making $70k and spending $7k a year on child care, their taxes would go down $840 a year, or about $75 a month. Through the magic of government budget gimicks, handing out tax credits is considered a reductions n of revenue, not an expenditure, making the tax credit essentially invisible and off budget. The exception is for refundable tax credits like the Earned Income Credit (EIC), but only for those who will actually get a check where they paid no taxes.
There is also an IRA / HSA type plan for the couple who wants to plan ahead and store away money to pay for a child in the future.
See any issues with this plan?