- 45% of people surveyed in a new Morning Consult/Politico poll said they support the GOP tax law, while only 35% opposed the law.
- But 51% of people said they had not yet received a paycheck increase from the law compared to 25% of people that said they did.
- Despite the steadily improving popularity of the law, many Americans have so far said they haven’t received benefits.
- The IRS estimated that 90% of Americans should see a larger paycheck from the tax bill.
Americans may be warming up to the recently implemented Republican tax law, but many of them haven’t yet noticed its effects in their paycheck.
According to a new Morning Consult/Politico survey, 45% of respondents approved of the GOP tax law, while only 35% said they disapproved. That matches recent trends in similar polls showing a steady growth in Americans’ support for the tax code overhaul.
And the law is growing in popularity at the same time many Americans say they haven’t yet seen its effects in their paychecks.
In the same Morning Consult/Politico poll, only 25% said they noticed an increase in their paycheck, while 51% said they have not received an increase over the last several weeks.
Among those Americans who did report an increase in their paycheck, the tax cuts seem to be a political winner for the GOP. Fifty-eight per cent of people who got a pay bump said the increase would make them more likely to support President Donald Trump, while just 19% said it would make them less likely to support the president.
On the other hand, 29% of people who got a pay raise said it would make them more likely to support Democrats, while 43% said the increase would make them less likely to support the party.
Based on guidance from the Internal Revenue Service, all employers were mandated by February 15 to update the amount of taxes withheld from Americans’ paychecks. The same IRS data estimated 90% of Americans would see an increase in their take home pay after the withholding updates.
Another major GOP selling point on the tax bill, one-time bonuses from employers to workers, hasn’t appeared yet to break into the mainstream. According to a Reuters survey released January 29, only 2% of people reported that they received a special payment or bonus as a result of the bill.
Business Insider Emails & Alerts
Site highlights each day to your inbox.