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Republicans Take the Lead on the Economy as Democrats Lose Middle-Class Favor

Market stabilization after President Trump’s tariffs has boosted consumer confidence despite widespread doubt about his handling of inflation.

Overview

  • Democrats’ historical edge as the party of the middle class has shrunk from a 23-point lead in 1989 to a tie in recent CNN/SSRS polling.
  • A May CNN/SSRS survey shows Republicans ahead by seven points on which party aligns with voters’ economic views.
  • Markets stabilized after “Liberation Day” tariffs with inflation slowing to 2.3 percent in April and consumer confidence jumping to 98 in May.
  • A Reuters/Ipsos poll finds the GOP’s perceived economic plan advantage growing from +9 in May 2024 to +12 points in May 2025.
  • Despite stronger economic indicators, President Trump remains underwater on voter trust for managing the economy and curbing inflation.