Poll: 27 percent of Americans think budget deal will have no impact on personal finances

Twenty-seven percent of Americans said that they thought the latest two-year budget deal would have no impact on their financial situation, according to a new poll out Friday.

The HarrisX-Hill poll found that 14 percent said they thought the budget deal would improve their financial situation while 16 percent said they think it will make their financial situation worse.

Forty-two percent, meanwhile, said they needed more information on the spending plan.

Republicans were more likely to believe that the agreement would improve their finances. 

Twenty-four percent of GOP voters said the deal would improve their financial situation, compared to 14 percent of Democrats and 5 percent of independents.

Democrats were more likely to think the deal would hurt their financial situation with 22 percent saying they thought that would be the outcome, compared to 14 percent of independents and 12 percent of Republicans. 

Fifty-one percent of independents said they needed to know more about the spending package to say what impact they thought it would have. Forty-one percent of Democrats and 34 percent of Republicans said the same.

The survey comes amid the passage of a sweeping new budget deal that aims to increase federal spending and lift the nation’s borrowing limit for the next two years. This also includes raising domestic and military spending by more than $320 billion.

President Trump, who backed the bill, signed the agreement into law on Friday. Even though the bill passed the Senate 67-28 with bipartisan support, the new law faced some resistance — nearly two dozen Republicans joined a handful of Democrats to vote against it.

The projected measure is expected to add nearly $2 trillion to the national debt over the next decade. This is on top of the nearly $2 trillion since Trump took office in January 2017.

This has raised concern among some advocates, who argue the deal fails to curb federal spending or shrink the ballooning deficit. Maya MacGuineas, a president of the Committee for a Responsible Federal Budget, called the passage a “bipartisan failure.”

HarrisX researchers surveyed 1,000 registered voters between July 27 and July 28. The sampling margin of error of this poll is plus or minus 3.1 percentage points.

—Tess Bonn