Polling conducted this summer by the bipartisan polling team Lake Research Partners and Chesapeake Beach Consulting shows voters across the political spectrum support regulation to protect the public from abusive Wall Street and corporate practices that make life more expensive at a time when many voters are struggling to afford basic needs.
The cost of living is the number one issue across the country as we head into midterm elections and voters want leaders to stand up to Wall Street and Big Tech and support policies that stop corporate abuse and lower costs. Voters of every party and ideology increasingly blame the affordability crisis on wealthy corporations and CEOs, corporate bad actors, and greed. They are aware of and concerned about the level of influence Wall Street and Big Tech have over both the economy and government. Voters across parties also soundly reject the influence of Big Tech financial firms, Wall Street, private equity, and crypto that is enabling widespread abuse and scams and driving up costs. These matters are the focus of voter attention now, and they will continue to be as legislators take their seats after the election.
Key Findings
- Large numbers of voters are struggling with debt. A majority of voters say that rising levels of debt are causing stress and anxiety, with 47% of voters, including 44% of Republican voters reporting that debt is pushing them to cut back on food, gas, and other living expenses (Section 2). Voters are also pushing off saving for retirement (38%) and skipping bills to make ends meet (27%).
- Voters are very concerned about Wall Street and Big Tech influence in Washington and support elected officials who stand up to powerful interests that are making life less affordable (Sections 3 and 4). Across party lines, voters largely reject the arguments made by Wall Street, Big Tech financial firms, crypto companies, and private equity that are frequently used to advance the industry-led deregulatory agenda (Section 5 and 6).
- Voters want to see a crackdown on high-cost financial products to make life more affordable (Section 7). Voters are broadly supportive of initiatives to make financial products fairer and less expensive and to protect their privacy. They support caps on overdraft and credit card late fees and want to rein in medical debt (Section 7).
- Voters across party lines support financial regulation and want companies to be held accountable. Voters hold favorable views on financial regulation generally, and want Wall Street, Big Tech financial firms, and crypto companies to have to play by the rules, not rewrite them for themselves. They are concerned about the Wall Street takeover of the economy, including in housing and care, that is driving up the cost of living. They also support the Consumer Financial Protection Bureau and oppose efforts to dismantle it (Section 8).