It's unclear at this stage. I'm presuming a larger proportion will go to Championship clubs to cover their larger costs, decreasing down to League 2.
There is more here:
https://www.bbc.co.uk/sport/football/54502459
But at this stage it's something created by Liverpool and Man Utd only, and I'm not sure there will be enough support across the board. It does seem in some ways like Agnelli's move to create the Superleague in the sense that it protects the biggest and established clubs. These clubs might talk from a moral perspective about saving football clubs in the lower leagues, but there is also selfish reasoning here. If you look at the current England squad there are hundreds of appearances in the EFL distributed between the players, it's an important stepping stone for the majority of players. Without those clubs and their academies the pickings become slimmer for EPL clubs.