"This is a common-sense compromise that both parties should embrace," the president began as he introduced the main points of his proposed plan.

$800 million in urgent humanitarian assistance
$805 million in new drug detection technology
2750 new border agents and law enforcement professionals
75 new immigration judge teams
$5.7 billion for "strategic deployment of physical barriers" (a wall)
Three years of legal relief and protection from deportation for DACA recipients
Three-year extension of protections for immigrants under Temporary Protected Status (TPS)

The president noted that the plan would not be a permanent fix, but rather called it a "down payment" on immigration reform, saying:

Once the government is open, and we have made a down payment on border security, and immigration reform starts to happen, I plan to convene weekly bipartisan meetings at the White House so we can do a finished product, a great product, a product that we can all be proud of, having to do with that elusive immigration problem.