Federale has an excellent summary:
Basically the plan is for the Regime …to give all illegal aliens parole status then allow them to apply for work and family based adjustment of status/visas, give the applications preliminary approval and then an Employment Authorization Card, order Customs and Border Protection to allow the parolees to travel in and out of the U.S., but not give the illegals "final" approval until it is authorized by Congress. But that will only be a formality, as with work authorization and the ability to travel, the illegals will be legal permanent residents in all but name. Then the Obama Regime will dare Congress to not provide the visa numbers or legal authorization to convert all the paroled illegal aliens to legal permanent residents. (Vdare.com emphasis)