Full Breakdown
Democrats Edge Republicans on Economy as Trump’s Approval Slides
8/4/2026, 6:00:05 AM
Democrats Edge Republicans on Economy in Latest Poll
The Reuters/Ipsos poll conducted online nationwide from July 29 through August 3 surveyed 4,505 U.S. adults and found that 37 % of registered voters believe the Democratic Party has a better approach to the U.S. economy, compared with 36 % who favor the Republican Party. An additional 27 % were unsure or preferred another party. This marks the first time in nearly a decade that Democrats have led Republicans on this issue, a shift last recorded in a May 2017 Reuters/Ipsos poll that used a different question format.
Trump’s Approval Rating Drops to Midterm Low
The same poll reported President Donald Trump’s overall approval rating at 35 %, down two points from a prior July poll and within one point of the lowest level of his second term. Separate surveys echo the decline: an AP-NORC poll placed his approval at 33 %, while a Quinnipiac poll recorded a career-low of 32 %. A CBS News/YouGov poll showed only 24 % of Americans think the Republican Party is helping with the cost-of-living crisis, versus 36 % who view the Democratic Party more favorably.
Economic Factors Influencing Voter Sentiment
Rising energy costs have been highlighted as a key driver of the shift. Gasoline averaged around $4.10 per gallon on a Monday, nearly 40 % higher than the $2.98 per gallon price on February 27, the day before President Trump initiated the war on Iran, according to data cited by the Daily Beast. The poll notes that soaring petrol prices—up more than 25 % since the conflict began—have increased household expenses and may be eroding the Republican edge on economic stewardship that persisted throughout Trump’s first term and the Biden administration.
Potential Impact on November 3 Midterms
The Reuters/Ipsos poll also asked respondents about hypothetical congressional voting: 42 % would choose a Democrat, while 37 % would support a Republican if elections were held now. Independents leaned Democratic by 12 points. With Republicans defending narrow majorities in the House and Senate, the narrowing economic advantage for Democrats could influence swing districts in the November 3 elections, though the overall composition of the 435 House seats and eight competitive Senate races adds complexity to the forecast.
