7.54pm GMT

Think Progress has a handy summary of President Obama's proposals today – here's the top four:

1. Making background checks universal. Obama wants every single gun owner to go through a proper background check, so it can be determined whether they have a criminal history or diagnosed mental illness. He wants Congress to close the gun show loophole that allows people at gun shows, and private buyers of used weapons, to avoid getting checked. He will also, through executive action, urge private sellers to conduct background checks, even if they aren’t mandatory.

2. Improving state reporting of criminals and the mentally ill. While all states are required to report to the National Instant Criminal Background Check System (NICS) people who should not have access to guns, some states are sluggish about putting the data into the system. Obama will put more money into the hands of the states so that they can improve their reporting systems, and issue stronger guidelines to let states know when they should report people. Obama will also, through Presidential Memorandum, work to make sure agencies are regularly entering data into NICS.

3. Banning assault weapons. This is likely the most difficult battle Obama will undertake. He wants to reinstate the 1994 Assault Weapons Ban, which outlaws military-grade weapons, like the AR-15 used by Newtown gunman Adam Lanza and by Aurora Theater gunman James Holmes. Obama wants Congress to pass the ban, and close some of the loopholes identified in its 1994 iteration.

4. Capping magazine clip capacity at 10 bullets. A military-grade weapon is dangerous, but so are its accessories: Obama proposes banning all extended magazine clips that hold over 10 bullets. Huge magazine clips allow a gunman to fire off hundreds of rounds without having to stop, even once, to reload. The high-capacity magazine ban was also part of the 1994 Assault Weapons Ban.