INDIANAPOLIS – Another new poll shows a majority of Americans aren’t noticing more money in their paychecks as a result of the McConnell tax plan, a blow to Republicans who have pinned their electoral futures on the tax law.
A new CNBC All-America Economic poll conducted this month found that more than a majority of Americans say they haven’t seen a change in their paycheck due to the McConnell plan. Less than a third report taking home more money as a result of the plan; of that group, 40% say it only helped them a “fair amount,” while 22% reported the extra pay they received “does not help much at all.”
Additionally, while Hoosiers won’t see much of an increase in their paychecks from the McConnell plan, they will see their insurance premiums rise by double digits this year thanks to sabotage of the health care system written into the tax plan and conducted elsewhere by Republicans. Those same insurance companies raising Hoosiers’ rates are also the ones receiving billions in new profits thanks to tax savings in the McConnell plan.
The results of CNBC’s poll are largely in line with previous surveys showing that the McConnell tax plan has been a dud among middle class voters. A Politico/Morning Consult poll from February showed a nearly identical number of voters hadn’t seen an increase in their paychecks. Back in January, a leaked memo from a GOP super PAC showed that a plurality of voters in battleground districts believed the McConnell tax bill would actually raise their taxes. As CNBC notes, the McConnell plan’s woes may be because “the tax cut provided too small a break to be meaningful to many Americans.”
“Congressman Messer, Congressman Rokita, and Mitch McConnell were more interested in rewarding their special interest donors instead of reaching across the aisle to craft a tax cut for the middle class, so it’s no surprise that the majority of Americans haven’t seen any bump in their paycheck,” said Michael Feldman, spokesman for the Indiana Democratic Party. “And any benefit Hoosiers do see will be wiped away by double digit premium increases by the same health insurers getting billions of dollars in new tax breaks. This is the bill the GOP is expecting to save them in November?”