- Americans’ pessimism continues on the economy, with inflation a major factor as nine in ten remain concerned about it in the coming months and most see grocery costs increasing.
- Support for Biden’s economic plan remains high across groups, but there has been a decline in the share who are hearing about it.
- Of potential outcomes of the new economic plan, those seen as best reasons to pass the plan and most likely to combat rising prices are allowing Medicare to negotiate for lower drug prices and capping insulin costs; making billionaires and corporations pay their fair share is seen as a top outcome to combat rising prices.
Majorities Hold Negative Views of the Economy and Believe it Is Getting Worse
Bipartisan majorities rate the economy today negatively, though a majority of Democrats say it is “getting better” or “staying the same” (54%) compared to just one in three independents (29%) and 15% of Republicans who say the same.
Vast Majorities Remain Concerned About the Rate of Inflation Climbing and See Grocery Costs Increasing
Nine in ten say they are concerned the rate of inflation will climb in the coming months as four in five say grocery costs are “going up significantly.”
- In a separate question, 57% also report feeling “uneasy” about their personal financial situation over the next few months.
Awareness of Biden and Democrats’ Economic Plan Has Fallen Since State of the Union Address
Fewer than half of Americans say they’ve heard “a lot” or “some” about Biden and Democrats’ economic legislation compared to a majority (54%) in early March, and just 13% say they are hearing “a lot.”
Nearly Seven in Ten Support Biden and Democrats’ New Economic Plan
Two in three independents (66%) support the plan, up 14 points since last asked in early March (from 52%).
Support Is High for Biden’s Plan, But Additional Language About Bringing Down the Deficit Does Not Increase Support
Biden’s economic plan with the context of pay-fors earns support from wide majorities of Americans, including independents; a version that mentions additional tax revenue going toward reducing the deficit performs slightly worse across all partisan groups.
Medicare Negotiating Lower Drug Prices and Capping Insulin Costs Seen as Best Reasons to Pass New Economic Plan
Among economic persuadables, lowering prescription drug costs and capping out-of-pocket insulin costs are highly rated reasons to pass Biden’s economic plan.
Billionaires and Corporations Paying More in Taxes From Biden’s Economic Plan Seen As Helpful to Combat Rising Prices
Among economic persuadables, billionaires and big corporations paying their fair share in taxes (80%) and Medicare being able to negotiate lower prescription drug prices (79%) are seen as the two most helpful in combating rising prices.
Lower Drug Costs and Capped Insulin Costs Are Seen as Best Reasons to Pass Biden’s Plan & Help Combat Rising Prices
Half of respondents were asked if they felt a range of potential outcomes from Biden and Democrats’ new economic plan would be a good reason to pass the plan, while the other half was shown the same list and asked if they felt each would help combat rising prices. Medicare being able to negotiate lower prescription drug prices and capping insulin costs top both lists.
Linking Economically Populist Messaging to “When the Middle Class Does Well, We All Do Well” Language is Effective
When adding this language to an argument the wealthy and corporations have been getting richer while working people have been struggling is more effective than one without that language.
About The Study
This release features findings from national online surveys of 1,000 registered voters conducted March 17-21, 2022. Additional interviews were conducted among 107 Hispanic voters, 102 African American voters, 96 independents without a partisan lean, and 79 Asian American and Pacific Islander voters.
