President Trump will address the nation Friday afternoon amid growing concern about the coronavirus outbreak across the United States and with multiple reports that he plans to declare a national emergency.

The president declined to say on Thursday whether he would make the declaration, an action that would help ease the distribution of federal funds to help state and local governments during national catastrophes.

“We have very strong emergency powers under the Stafford Act,” Trump said Thursday in the Oval Office. “I have it memorized, practically, as to the powers in that act. And if I need to do something, I’ll do it.”

The Stafford Act is a 1988 federal law that allows for assistance to states and localities during a disaster or emergency.

The coronavirus is wreaking havoc across the nation as fears are causing school closures and sports cancellations. Mass crowds are rushing to local stores to stockpile basic goods and finding some empty shelves.

Employing the Stafford Act would give the Federal Emergency Management Agency access to $40 billion in disaster relief funds to assist state and local governments responding to the virus.

The money during a pandemic can be used for emergency medical care, food and medicine.

The money would also be in addition to the $8.3 billion provided by an emergency spending bill Trump signed on March 6.

Trump tweeted about the press conference as White House officials continued to negotiate with lawmakers on a bill that could help mitigate the economic impact of the virus.

Watch the press conference live beginning at 3 p.m. ET.

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