Poll: Majority disapproves of GOP tax bill

Poll: Majority disapproves of GOP tax bill
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A majority of voters in a new survey disapprove of the GOP tax plan.

A Quinnipiac University poll finds 53 percent of voters disapprove of the GOP's tax plan, while just 29 percent of respondents approve of the proposal.

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The poll also found that 64 percent of American voters think the plan benefits the wealthy the most. Twenty-four percent say they think the tax plan benefits the middle class the most.

Just 5 percent of respondents think it benefits low-income people the most.

Slightly more than 40 percent of voters think the GOP plan will increase their taxes. Twenty percent think their taxes will go down under the plan and 32 percent think their taxes won't be much affected by the plan.

The poll was conducted from Nov. 29 to Dec. 4 among 1,508 voters. The margin of error is plus or minus 3.1 percentage points.

The Senate last week passed legislation to overhaul the tax code, handing Republicans a badly needed legislative and political victory.

On Monday, the House voted to approve a motion to go to conference with the Senate on tax legislation.

Each measure would cut the corporate tax rate from 35 percent to 20 percent, substantially increase the standard deduction and move the U.S. to a territorial tax system that generally exempts corporations' foreign earnings from U.S. taxes.

The Senate bill also includes the repeal of ObamaCare's individual mandate and allows drilling in a portion of the Arctic National Wildlife Refuge, which are not included in the House bill.