WASHINGTON, D.C. – Ahead of the first presidential debate, a new national survey released today by the U.S. Chamber of Commerce reveals where voters stand on one of the biggest issues that will confront the White House and Congress in 2025.
The survey shows that a majority (80%) of voters expressed concern that increasing taxes would result in higher prices. Ninety-three percent (93%) believe American families and businesses are already paying enough in taxes.
“The message from American voters is clear: raising taxes on families and business owners is a losing proposition. And for good reason. Increasing taxes decreases the ability to make the investments necessary to reduce inflation and grow our economy,” said Neil Bradley, Executive Vice President and Chief Policy Officer at the U.S. Chamber. “When we talk about modernizing the U.S. tax code and growing our economy, we’re really talking about supporting the people who open their doors for business every morning across America. American families are already grappling with high prices and uncertainty. The last thing they need is government policy that hinders wage increases, investment, and economic growth that will create new opportunities for American workers across the country.”
Key Findings:
American voters overwhelmingly believe higher taxes on U.S. businesses will lead to higher prices.
- Over 80% of those polled believe that higher taxes will lead to higher prices, while only 9% believe higher taxes will lead to lower prices. Eleven percent (11%) believe it will have no impact.
A majority of American voters think the amount of federal taxes paid by American families and businesses is too high.
- Sixty-seven percent (67%) of American voters think taxes paid by both families and businesses are too high, while a quarter (26%) say taxes paid are about right. Only 7% of voters think taxes are too low.
This survey is part of the Chamber’s advocacy campaign leading up to the 2025 tax cliff when key provisions of the 2017 Tax Cuts and Jobs Act are set to expire. The national poll surveyed 701 American voters between June 21-25, 2024. The margin of error is ~3.8%. Full survey results can be viewed online here.
These results are consistent with other Chamber polling that shows a majority of American voters support pro-growth policies.
