Trump’s Economic Approval Ratings May Bounce Back, Says Gingrich
Former House Speaker Newt Gingrich shared his thoughts on Thursday regarding President Donald Trump’s economic approval ratings, suggesting they might recover or even exceed those from Trump’s first term.
With Labor Day weekend approaching, Americans are expected to travel with gas prices at their lowest in five years. During a discussion about Trump’s economic recognition ratings, Gingrich pointed out that declining gas prices could shift public sentiment positively towards Trump.
“I just saw today that people will be driving and they’ll have the lowest gas prices in quite some time,” he mentioned. “It’s important because it affects people’s wallets. My prediction is that by early next year, we’ll see Trump’s job approval ratings on the economy rise beyond what they were in his first term,” he added.
Gas prices had significantly risen during Biden’s presidency, peaking in June 2022 at nearly $5 per gallon, while projections for Labor Day show prices averaging about $3.15—down from $3.16 in 2021.
Gingrich also addressed how voters react to Trump’s trade policies, saying many were confused about his tariff strategies. “People were unsure about what he was doing, especially with negotiations happening in the public eye,” he stated, implying that Democrats took advantage of that confusion.
Moreover, he highlighted lesser-known aspects of Trump’s economic plans, like a new rule permitting businesses to write off their investments in factories within a year instead of over 39 years. “It used to take nearly four decades to depreciate a facility; now it can be done in one year,” Gingrich explained.
Trump’s new legislation, signed on July 4, 2025, reinstates full bonus depreciation for qualifying assets that have been in service since January 19, 2025. This shift aims to benefit companies that invest in key assets more swiftly, particularly in production facilities built from 2025 to 2028, provided they are utilized by 2031.
