Majority Thinks Tax Reform Will Hurt Them Financially: Poll

The tax reform bill, versions of which were passed in both the House of Representatives and the Senate, is highly unpopular among the American people. That is one of the findings in a new Marist Poll released Monday.

A majority of U.S. residents — 52 percent — think the legislation will mostly hurt their personal family finances. That number includes more than one in five Republicans and one in five supporters of President Donald Trump.

Only 30 percent said it will mostly help them financially and 8 percent think the bill will not make a difference in their lives. One in 10 Americans are unsure how the bill will affect them.

On the Democratic side of the aisle, 78 percent along with 52 percent of independents think the tax reform bill will be a detriment to their family’s finances. Fifty-seven percent of Republicans said the legislation will benefit them.

When broken down by income, the Marist Poll found that 60 percent of Americans who earn less than $50,000 said the legislation, which is currently being worked on in committee, will mostly harm them.

Fewer people who earn more than $50,000 — 46 percent — think the bill will hurt their family financially.

The Marist Poll also asked who the impending tax reform bill will help the most.

Six in 10 Americans — 60 percent — said the tax bill will mostly help the wealthy. More than one in five — 21 percent — said it will help the middle class. Four percent believe it will mostly assist the poor, while 15 percent are unsure.

The results of the poll break down along political lines.

Most Democrats — 85 percent — and more than six in 10 independents believe the tax bill will mostly help upper income Americans.

However, Republicans do not consider tax reform in the current version to be universally beneficial.

Almost half of Republicans, or 46 percent, think the legislation will mostly help the middle class, but more than a quarter, or 28 percent, believe it will benefit those in the highest income brackets.

Only 5 percent of Republicans think it will help the poor, while 21 percent are unsure how it will affect people.

Dr. Lee M. Miringoff, director of the Marist College Institute for Public Opinion, said that if the objective of Republicans in Congress is to win a legislative battle, then the tax reform bill could reach its goal.

“But, if the goal is to pass legislation that is supported by most Americans, the tax reform bill comes up very short,” he said.

Dissatisfaction as to how tax reform has been handled is increasing; 63 percent of U.S. residents say they disapprove of the congressional GOP’s approach. That is up from 57 percent in November.

That dissatisfaction reflects on the Republican Party’s overall job approval rating in Congress. More than two-thirds, or 68 percent, of Americans disapprove of how the Republicans in Congress are doing their job; 25 percent approve and 7 percent are unsure.

That breakdown hasn’t changed much since last reported in mid-November, the Marist Poll said.

Congressional Democrats also score poorly. However, they do a little better than the GOP.

Fifty-nine percent of Americans disapprove of how they are performing in office compared with 32 percent who approve. Nine percent are unsure. Those proportions are also pretty much unchanged since last month.

The Marist Poll was conducted between Dec. 4 and Dec. 7. The national survey was of 1,267 adults 18 years or older living in the contiguous United States. They were contacted on landline or mobile numbers using live interviewers.

For the complete poll results, including the methodology, go here.

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