Voters Reject Trump's Economic Record in Midterm Shellacking
A survey of 100,000 voters found that two-thirds blame the president's policies for high prices, leading to sweeping Democratic gains in Tuesday's elections.
By Wyatt Cooper ·
President Donald Trump lost control of the economic narrative on Tuesday as voters across the country punished Republicans in House, Senate, and gubernatorial races. The AP Voter Poll, which surveyed roughly 100,000 midterm voters, found that most Americans believe the president's own actions fueled the recent spike in costs. The results marked a sharp departure from the 2022 election, where only half of voters blamed then-President Joe Biden for similar issues.
Consumer prices rose 3.7% over the past 12 months, up from the 3% rate at the start of Trump's second term. Voters from California to Mississippi said tariffs on foreign imports did more harm than good. Energy costs also surged after the administration launched a war with Iran in February. Trump told reporters on Wednesday that the conflict drove gasoline prices up slightly in the short term, but he defended the decision as necessary to stop Iran's push for nuclear weapons.
The election results confirmed what pollsters had reported for months, though the president campaigned with a different message. At a final rally in Iowa, Trump claimed he had done a great job and that prices were coming way down. His optimism did not match the experience of lower-income households. About 6 in 10 voters earning less than $50,000 a year said they were worse off than they were two years ago.
Wealth inequality emerged as a central concern for voters. About 7 in 10 said the economy favors the wealthy, a sentiment shared even by high-earning Californians with incomes above $300,000. Despite this, a slight majority still viewed capitalism favorably. However, about 6 in 10 voters said they wanted the government to play a bigger role in reducing medical expenses. Most believed Trump's policies made healthcare costs worse.
The stock market reacted positively to the Democratic wins, with the S&P 500 rising more than 10% this year. Investors viewed the shift as a check on executive power. The unemployment rate stands at 4.2%. While the economy is growing, voters remain anxious about the rapid buildout of artificial intelligence. About 6 in 10 said the technology will hurt society, fearing job displacement or a financial bubble that could threaten retirement savings.
Higher-income voters, particularly those earning over $200,000, cited democracy as their top issue alongside the economy. This group was less likely to blame high prices for their vote compared to lower-income households. Trump's administration had imposed hundreds of billions in tariffs that the Supreme Court ruled illegal earlier this year and laid off thousands of federal workers without congressional approval. About 6 in 10 voters said the president's priorities were misplaced and that he did not fight for people like them.
The AP Voter Poll blended probability-based and non-probability-based interviews with registered voters in all 50 states. Fieldwork ran from October 19 to November 3 in Alaska and October 22 to November 3 in all other states. The margin of sampling error is plus or minus 0.6 percentage points.
