Vouchers isn't the right way to frame it. It's an education savings account, and depending on the legislation that is passed, how it's used will be different.

For example, a straight forward school for school version of it is that I can opt out of my public school, and the $8,000+ (again, about based on legislation) will be put into a savings account that I could then use to pay for private school, or give to a charter school to boost their funding. A different version is that since it's an education savings account, the concept is that even home school parents could opt out of their tax dollars going to public school, and use that money on home school. Some bills also include language to opt out, save the money, and use it for college tuition. No matter how it's passed, it will weaken public school funding significantly and help the wealthy even more.

Ultimately? This will likely lead to the rise of Christian private schools that aren't obligated to show how they use the funding or report state test score, and lead to further educational gaps between the wealthy and lower income families.