President Donald Trump on Friday declared a national emergency over the coronavirus pandemic.

In making the announcement, Trump revealed $50 billion has been made available for states and territories to draw on in their fights against the virus. He also promised 500,000 new testing kits would be available early next week, and waived federal student loan payments until the state of emergency is over. “No resource will be spared, nothing whatsoever,” Trump said.

Also on Friday, the White House revealed it has awarded $1.3 million to two companies that are attempting to develop new COVID-19 testing kits that could produce results within an hour.