In September, Trump promised to pull back all unspent funds from the Inflation Reduction Act as the costs of the legislation ballooned to nearly $800 billion.

A clear majority of American voters aged 55 and up believe the incoming Trump administration should pause the execution of President Biden’s Inflation Reduction Act, according to a new poll conducted by ProMark Research for the Association for Mature American Citizens Action.

The survey, obtained by National Review, finds 70 percent of senior voters agree the Trump administration should take a break from executing the legislation until the incoming leadership can fix or outright repeal the measure.

Respondents came to that conclusion after being asked a series of detailed questions about the impacts of the Inflation Reduction Act’s green energy and drug policies.

For instance, 83 percent of those surveyed were very or somewhat concerned when they were told that an analysis showed most of the Inflation Reduction Act’s climate subsidies benefited a few companies and wealthier Americans who buy electric vehicles.

A large majority, 83 percent, either felt very concerned or somewhat concerned about the Inflation Reduction Act’s changes to Medicare Part D causing insurance premiums to skyrocket. The changes have also caused insurers to flee the market, an issue that 83 percent of respondents are also concerned about.

Likewise, 78 percent are opposed to the government giving insurance companies subsidies under the Inflation Reduction Act and 71 percent are worried about research trials on new medicine declining following the law’s passage.

Similarly, 85 percent believe Congress should take money from the Inflation Reduction Act and put it back into Medicare, instead of diverting Medicare funding to bankroll green energy initiatives. Additionally, 60 percent somewhat or strongly agreed with the idea of eliminating punitive taxes and penalties included in the Inflation Reduction Act’s drug price negotiation program under Medicare.

The survey was taken in December among 800 registered voters aged 55 and over. The margin of error is plus or minus 3.5 percentage points and the sample is weighted to be representative of national demographics.

Biden signed the Inflation Reduction Act in August 2022 after Democrats passed it along party lines through the budget reconciliation process after months of negotiations and party infighting. Despite its name, the legislation is known for its green energy investments and healthcare policy changes rather than its effect on inflation.

With Republicans reclaiming the Senate majority and narrowly retaining the House, President-elect Donald Trump could quickly repeal the Inflation Reduction Act if congressional Republicans decide to include such a measure in the upcoming budget reconciliation process.

In September, Trump promised to pull back all unspent funds from the Inflation Reduction Act as the costs of the legislation ballooned to nearly $800 billion, far higher than the roughly $400 billion it was expected to cost.