Before the President's speech to the nation on immigration, the White House released details of Mr. Obama's executive actions, which features plans to shield over 4 million people now living illegally in the United States from being deported.
As for the legal authority behind these moves, the Justice Department released a memo on that, which can be found at http://www.justice.gov/sites/default/files/olc/opinions/attachments/2014/11/20/2014-11-19-auth-prioritize-removal.pdf.
Here are the details as provided by the White House press office:
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