Obama is proposing that Congress prohibit the possession of projectiles defined as "armor piercing ammunition."
Since federal law has prohibited the manufacture and importation of such projectiles since the 1980s, we are left to wonder whether such action by Congress would be followed by a new ruling by the BATFE, as to what kinds of projectiles the law would cover. Is banning almost all common projectiles (bullets) the Administration's back door way of banning civilian gun ownership? Guns are not very much use without bullets.
Obama stated that no one needs armor piercing ammunition, which is true and which is why Federal law prohibits the manufacture, importation, sale or delivery of armor-piercing ammunition, with very limited exceptions such as military and police.
If it's already against the law, why is Obama wanting a new law to make it illegal?