Braced for a fight, President Barack Obama on Wednesday unveiled the most sweeping proposals for curbing gun violence in two decades, pressing a reluctant Congress to pass universal background checks and bans on military-style assault weapons and high-capacity ammunition magazines like the ones used in the Newtown, Conn., school rampage.
"We can't put this off any longer," Obama said in urging Congress to approve the measures.
But the nation's largest gun-lobby group quickly signaled its opposition. "Attacking firearms and ignoring children is not a solution to the crisis we face as a nation," the National Rifle Association said in a statement. "Only honest, law-abiding gun owners will be affected and our children will remain vulnerable to the inevitability of more tragedy."
Obama's announcement helped spur a surge of buying in gun companies: Smith & Wesson and Sturm Ruger each closed more than 5 percent higher Wednesday.