Finance

Poll: Most Americans not getting bigger paychecks in wake of tax overhaul

More than half of U.S. voters say they have not noticed an increase in their paychecks following a sweeping series of tax cuts signed into law by President Trump last month, according to a new Politico-Morning Consult poll

Just 25 percent of registered voters reported an increase in their pay, compared to 51 percent who said they did not.

The number of employed voters who noticed an increase was higher, at 37 percent, according to the poll. Still, 53 percent said they haven't noticed an increase in their paychecks.

Respondents who identify as Republicans were more likely to report higher paychecks after the tax overhaul, pollsters found. Thirty-two percent of Republicans said they have noticed higher paychecks, compared to 21 percent of Democrats and 22 percent of independents.

Trump and congressional Republicans have touted the tax cuts as a way to bolster economic growth. The law slashed the corporate tax rate from 35 percent to 21 percent, and offers a series of temporary individual tax cuts.

But opponents of the law have argued that it is a massive windfall for corporations and the wealthiest Americans, and that middle- and lower-income people will not see the same benefits as high-earners.

The Politico-Morning Consult poll pegged public support for the law at 45 percent and opposition at 35 percent. That's the same as a similar poll released last month. 

The poll surveyed 1,989 registered voters from Feb. 15-19. It has a margin of error of 2 percentage points.

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