NC F1RST COVID-19 Update H. Tasaico April 24, 2020 NC F!RST - PowerPoint PPT Presentation

NC F1RST COVID-19 Update H. Tasaico April 24, 2020

NC F!RST – COVID19 Update COVID19 - Confirmed Deaths 2

NC F!RST – COVID19 Update The Great Lockdown Unemployment Claims 4/21 NC Update: 700K 4/23 US Update: 26.5M Source: FT, Trading Economics Illustration: Visual Capitalist 3

NC F!RST – COVID19 Update COVID-19 - Shopping Preferences Source: Strackline, Amazon, Business Insider, Euro news, CNBC Illustration: Visual Capitalist 4

NC F!RST – COVID19 Update The Oil Crash Source: Investing.com Illustration: Visual Capitalist 5

NC F!RST – COVID19 Update Passenger Car Sales Source: BEA, CAAM, ACEA Illustration: Statista 6

NC F!RST – COVID19 Update Source: Inrix 7

NC F!RST – COVID19 Update Traffic Summary day-by-day Green – Normal Yellow – Trend Down Red – Decline in Earnest 8 Source: Inrix

NC F!RST – COVID19 Update Revenue Model - Variables Source Share of Variables Variables Revenue Rate General Statute Formula Motor Fuel Tax 40% Fuel Employment and economic activity Consumption Rate General Statute Formula DMV Fees Quadrennial CPI Adjustment 20% Transactions Employment and economic activity Highway Rate General Statute Use Tax 15% Transactions Employment and economic activity Federal Revenue Congressional Budget Office 25% 9

NC F!RST – COVID19 Update SFY 2020 Projections* – Year to date (March) and Year-end *Comparison to Biennium Budget 10

NC F!RST – COVID19 Update SFY 2021 Projections* Assumes a 1.5 cpg reduction in MFT rate *Comparison to Biennium Budget 11

NC F!RST – COVID19 Update Federal Response Congress Name Date Amount Reference ($B) 1 HR 6074 Coronavirus Preparedness and Response Supplemental 3/6/2020 8.1 (PL 116-123) Appropriations Act 2 HR 6201 Families First Coronavirus Response Act 3/12/2020 191.9 (PL 116-127 3 HR 748 Coronavirus Aid, Relief, and Economic Security Act (CARES) Act 3/27/2020 2,000 (PL 116-136) 4 HR 266 Paycheck Protection Program and Health Care Enhancement Act 4/23/2020 484 NC Transportation CARES ACT • FTA Urbanized Formula $224.8M • FTA Non-Urbanized Formula 94.9M • Airport Grants-in-aid 283.7M 12

NC F!RST – COVID19 Update NC Transportation Revenues and US GDP Incomplete 3 rd quarter 2021 13

NC F!RST – COVID19 Update NC Transportation Revenues and US Unemployment Incomplete 3 rd quarter 2021 14