Washington, D.C. — August 29, 2023 — As part of its Commitment to Seniors initiative, American Commitment released a new national survey conducted among 800 likely voters who are 55 and older. The poll was conducted by McLaughlin & Associates. The findings highlight older Americans’ views on the Inflation Reduction (IRA) one year after its passage, including the IRA’s changes to Medicare and the legislation’s impact on their personal finances and healthcare costs. Key findings include:
- Above 80% believe the IRA has not directly helped them personally in terms of lowering the impact of inflation, consumer costs, and prescription drug prices.
- Nearly 75% believe the IRA turned out to be something different than what supporters said it would be, and who would benefit, due to politicians prioritizing climate spending and green energy tax breaks over measures to lower consumer prices and healthcare costs.
- More than 90% believe the IRA’s Medicare drug savings should first be applied toward reducing Medicare beneficiaries’ drug costs instead of diverting funds toward unrelated spending.
- Nearly 85% claimed prices they pay for consumer goods like food, clothing, utilities, etc., actually increased in the year following the passage of the IRA.
- Over 80% stated that since last year, prices for their prescription drugs and health insurance either increased or stayed the same, respectively, after enactment of the spending bill, with only around 10% seeing any decreases in costs.
- Almost 45% believe politicians benefited the most from the IRA spending bill, followed by roughly 22% for climate spending programs, 11% for electric vehicle makers, 10% for health insurance companies, and just 6% for older Americans, 5% for families and 4% for consumers.
- Ultimately, nearly 80% of older Americans view the Inflation Reduction Act as a failure one year after the passage of the legislation.
“The Biden White House is holding a celebration for a bill that older Americans overwhelmingly have experienced as a failure,” said Phil Kerpen, President of American Commitment. “While the Democrats’ spending bill was presented as a means to lower consumer prices and seniors’ healthcare costs, likely voters believe it has done the opposite. Furthermore, older Americans are overwhelmingly opposed to diverting hundreds of billions of dollars in projected Medicare savings to pay for and prioritize Washington politicians’ unrelated spending priorities. The IRA was a classic ‘bait n switch’ by liberals in Congress, and conservatives should stay on offense against it.”
“From consumer prices to healthcare, it is abundantly clear that older Americans view the Inflation Reduction Act as a complete failure,” said Jim McLaughlin, President and Partner of McLaughlin & Associates. “Liberal politicians’ turned this spending bill into a cruel jest, as hundreds of billions in Medicare funds intended for older Americans’ well-being have been squandered on costly Green New Deal fantasies and handouts to big health insurers. From this data, the 2024 campaign commercials can almost write themselves.”
Poll results can be found on the website for the Commitment to Seniors project: