A majority of US citizens have stated that they are not yet seeing President Donald Trump‘s tax cuts reflected in their paychecks, according to a new poll.
A CNBC All-America Economic Survey shows that 52 percent of respondents say they haven’t seen a change.
Only 32 percent of respondents stated that they are taking home more money due to the tax cuts, which Trump signed into law late last year.
Of the 32 percent that are taking home more money, 38 percent say the extra pay they receive helps them a “great deal” or a “fair amount.”
Forty percent say the extra pay helps “some” or “just a little,” and 22 percent report that the extra pay “does not help much at all.”
The poll was conducted from March 17 to 20 among 800 Americans and it has a 3.5 percentage point margin of error.
The Treasury Department and IRS released new guidance earlier this year that adjusted the amounts that companies set aside from their employees’ paychecks for federal taxes.
Employers were instructed to adopt the new withholding tables by Feb. 15.
Treasury Secretary Steven Mnuchin has said that 90 percent of wage earners would see bigger paychecks due to the guidance
Trump’s tax overhaul was expected to be one of the main policies that will enlarge his approval rating.
“Trump’s job approval numbers are very stable, underpinned by strong partisan, gender, and generational divides,” said Micah Roberts, the Republican pollster for the survey for Public Opinion Strategies. “Whatever else we might say about the historical significance of how low his overall approval is, it is also worth noting how historically stable this number has been over an otherwise very politically turbulent year.”
Jay Campbell, the Democratic pollster with Hart Research, sees factors other than the economy pulling down on the President’s numbers.
“Approval of any president are the sum of the nation’s parts, and the economy is just one of those parts,” Campbell said. “Our strong economy is unarguably working to President Trump’s benefit, keeping his approval numbers afloat. But there are multiple other factors that, at the same time, are pulling him down.”