As President Joe Biden announced his “ Bidenomics ” vision for the nation this week, 50% of voters considered the current state of the U.S. economy to be “poor,” according to a poll released on Monday.

The Bi-Weekly Political Sentiment Tracker, conducted by data analytics company Premise, found that 54% of female respondents and 44% of male respondents said the national economy is not faring well under Biden.

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Beyond gender, the poll divided the data into age group, political party identification, education level, registered voter status, and ethnicity.

The data revealed that 72% of Republicans and 56% of independents think the economy is in a bad position, with 30% of Democrats saying the same. From the voters surveyed, most Democrats consider the economy “fair.”

Premise surveyed a sample size of 2,068 people from June 23-26.

The Biden administration announced the president’s economic plan on Monday, nominally modeling it after President Ronald Reagan’s trickle-down policies known as “Reaganomics.” The plan looks to “fundamentally change the economic direction of our country” by growing the economy “from the middle out and the bottom up” and not the top down, a White House memo read .

Biden delivered an address on “Bidenomics” in Chicago Wednesday afternoon, in which he criticized Reagan’s policies and emphasized his own approach to solving the nation’s economic crisis. Under Biden, the U.S. has been struggling with rising inflation, high rates of unemployment, and crippling debt, among many other economic problems.