Voters Support the Inflation Reduction Act’s Investments in American Families
By Bella Kumar
The Inflation Reduction Act of 2022 comes after two years of continued efforts from the Biden Administration to pass an expansive budget reconciliation bill. The act will make a historic down payment on deficit reduction to fight inflation and make the biggest corporations and ultra-wealthy pay their fair share. The bill will also finally allow Medicare to negotiate for lower prescription drug prices and ensure stable healthcare costs for millions of Americans covered by the Affordable Care Act.
New Data for Progress polling shows that voters overwhelmingly approve of each major component of the Inflation Reduction Act. They support:
Investing $64 billion in healthcare subsidies for the Affordable Care Act to keep insurance costs stable for millions of Americans, by a +50-point margin
Reducing the national deficit by at least $300 billion, by a +73-point margin
Lowering prescription drug costs by allowing Medicare to negotiate drug prices with pharmaceutical companies, by a +77-point margin
Raising the minimum tax rates on large corporations to 15 percent, by a +46-point margin
We also asked voters if they believed the Inflation Reduction Act would improve certain aspects of their lives. Majorities of voters say the bill’s key components will improve each of the following “a great deal” or “some” amount:
55 percent say the bill will improve their bottom lines
54 percent say the bill will improve healthcare costs
50 percent say the bill will improve the national debt
49 percent say the bill will improve inflation
After Democrats announced the Inflation Reduction Act, Republicans in Congress temporarily blocked the passage of the Honoring Our PACT Act, a bill that will provide healthcare and benefits to veterans who have chronic illnesses as a result of exposure to toxins while serving overseas. Voters disapprove of congressional Republicans’ decision by a -23-point margin, including Democrats by a -58-point margin, Independents by a -32-point margin, and self-identified liberals by a -69-point margin. Republican voters approve of the decision by a +17-point margin.
The Inflation Reduction Act is arguably the most important piece of legislation for the Biden Administration to date. With historic investments in healthcare and clean energy as well as critical action to combat inflation, the passage of this bill will significantly improve American lives. It is crucial that legislators pass the Inflation Reduction Act ahead of the midterm elections.
Bella Kumar (@bellakkumar) is a communications intern at Data for Progress.