June 16, 2025

Permission to republish original opeds and cartoons granted.

Poll: 52 Percent Say U.S. Economy Strong, 39 Percent Say Inflation Still Top Issue As 61 Percent Say Make Tax Cuts Permanent 

By Robert Romano 

52 percent of voters say the U.S. economy is strong but 39 percent say inflation is still the top issue facing the nation, according to the latest polling from Harvard-Harris taken June 11 to June 12. 

The stark turnaround in public sentiment towards the economy from former President Joe Biden’s tenure, which saw majorities saying the economy was weak all the way from August 2021 through April 2025 after consumer inflation crested 5 percent in June 2021 before peaking at 9.1 percent in June 2022. 

That was exactly the time that Biden found his overall approval fall underwater, never to return, leading to his withdrawal from the 2024 election and the reelection of President Donald Trump in November. 

Following the peak inflation of 2022, public attitudes towards the economy gradually improved, but just not enough to make a difference in the 2024 election as Democrats were ousted after just one term in the White House. The problem was inflation largely outpaced incomes during Biden’s term of office. 

Today, however, personal incomes continue outpacing consumer inflation, growing at 5.5 percent the last 12 months while consumer inflation is at 2.4 percent as of May. This is the critical “better off” metric that tipped the 2024 election to the opposition party just like it did in 1976, 1980 and 1992. It’s really quite simple: If incomes grow faster than inflation, then Americans are getting wealthier. And when the opposite is true, voters punish the incumbent political party. 

And inflation remains the top issue of concern among 39 percent of voters, including 37 percent of Democrats, 40 percent of Republicans and 41 percent of independents. 

For the moment, President Trump is upside down on inflation — only 42 percent approve — somewhat inheriting Biden’s numbers on the question, although it is still better than Biden’s, who went out of office with only 34 percent approval on inflation.  

The good news for Trump and Congressional Republicans is price increases have been slowing for three years, while incomes have outpaced inflation since January 2023. Meaning, as Americans’ real financial situation improves, so too will public sentiment about the economy and the performance of the Trump administration. 

That could make the recent spike in oil prices following the beginning of the larger Israel-Iran war somewhat worrying, rising from $64 a barrel on June 11 to a peak of $77 a barrel on June 15. Fortunately, prices have settled down to about $70 a barrel as of this writing as President Trump continues pushing for a peaceful settlement to the Iranian nuclear program’s weaponization. 

As an offset, for the moment both OPEC and U.S. production of oil is increasing. In the event the war escalates, to keep prices under control would require some combination of further production increases and otherwise dollar strengthening. Unfortunately for inflation, the dollar has been weakening for the past six months.  

In the meantime, 61 percent in the poll said they were in favor of making the 2017 Trump tax cuts permanent. That includes 81 percent of Republicans, 58 percent of independents and 41 percent of Democrats who generally support the central thrust of the House-passed One Big Beautiful Bill Act that is pending in the Senate.  

After the 2024 elections swept Republicans into the White House, House and Senate with majorities, the public is expecting Congress to act to boost the economy and prevent taxes from increasing on 80 percent of Americans on Dec. 31.  

Overall, the legislation would certainly also boost take-home pay for millions of Americans as it includes no income taxes on tips and overtime, plus tax relief for Social Security recipients. That’s more money in the pockets of the American people, further boosting their purchasing power and alleviating the overhang from inflation and importantly for the administration—the public’s mood as it relates to the economy. The question is whether the Senate can get it across the finish line. Stay tuned. 

Robert Romano is the Executive Director of Americans for Limited Government.  

To view online: https://dailytorch.com/2025/06/poll-52-percent-say-u-s-economy-strong-39-percent-say-inflation-still-top-issue-as-61-percent-say-make-tax-cuts-permanent/