The NICS system is up for reauthorization this year. It's still under debate in the Senate, but here's what's going on.
Under Section 103:
(b) Technical and Conforming Amendment.–The NICS
Improvement Amendments Act of 2007 (18 U.S.C. 922 note) is
(1) by striking "as a mental defective" each place that
term appears and inserting "mentally incompetent";
(2) by striking "mental institution" each place that term
appears and inserting "psychiatric hospital"; and
(3) in section 102(c)(3)–
(A) in the paragraph heading, by striking "as a mental
defective or committed to a mental institution" and
inserting "mentally incompetent or committed to a
psychiatric hospital"; and
(B) by striking "mental institutions" and inserting
Section 106 contains the "Nationwide Project Exile Expansion," which contains provisions to actually, you know, prosecute people who violate existing laws.
Section 108 has a post Fast & Furious tidbit:
The Department of Justice, and any of its law enforcement coordinate agencies, shall not conduct any operation where a Federal firearms licensee is directed, instructed, enticed, or otherwise encouraged by the Department of Justice to sell a firearm to an individual if the Department of Justice, or a coordinate agency, knows or has reasonable cause to believe that such an individual is purchasing on behalf of another for an illegal purpose
Sections 109 and 110 tighten up the rules a bit on straw purchasing.
Section 114 prohibits the Attorney General from requiring dealers to submit reports for multiple sales of long guns.
Section 116 requires federal agencies to report the amount of ammunition they're buying as a result of the stupid DHS ammunition buy conspiracy theory.
Section 118 changes 922(b)(3) to allow dealers to sell handguns to buyers outside their home state.
Section 119 allows dealers to use the NICS system to do background checks on employees.
Of particular note are amendments SA 730-733, which are each titled, "an amendment to the bill S. 649, to ensure that all individuals who should be prohibited from buying a firearm are listed in the national instant criminal background check system and require a background check for every firearm sale." Though the title seems ominous, the actual verbiage is silent on the notion of universal checks and seems only to apply to mental-health reporting.
That still won't stop Klobuchar, McCain, and others from sneaking it through in the future, so it's worth watching.