Poll: Voters favor Democrats on economy for first time in a decade

Americans now prefer Democrats over Republicans as better stewards of the economy, marking the first time in nearly a decade, according to a Reuters/Ipsos poll. The survey also revealed a decline in President Donald Trump's approval rating to 35%.

The poll indicates that Trump's handling of the economy, particularly the surge in energy prices stemming from the US-Israeli attacks on Iran in February, could negatively affect his party's chances in the upcoming November midterm elections. These elections will determine control of Congress for the next two years.

Trump's presidential approval rating dropped from 37% in the previous month's poll to 35%. The share of Americans approving of his presidency is now only one percentage point above the lowest level recorded during his term. The poll, conducted from Wednesday to Monday, showed 37% of registered voters believe the Democratic Party has a better approach to the U.S. economy, compared to 36% who favor the Republican Party. Approximately 27% were unsure or felt a different party would perform better.

Historically, Republicans maintained an advantage on economic issues throughout most of Trump's first term (2017-2021), all of Democratic President Joe Biden's tenure, and into Trump's second term. However, this edge has steadily eroded during Trump's current term. Gasoline prices have increased by over 25% since the war with Iran began, with the average American paying more than an additional dollar per gallon at the pump.

In congressional elections, 42% of registered voters indicated they would vote for a Democrat if the contest were held now, while 37% would vote Republican. Independents surveyed leaned towards Democrats over Republicans.