As Florida leads on free-market policies, new poll shows voters want federal regulators to follow suit

A new national survey released by Americans for Free Markets (AFFM) shows strong bipartisan support for efforts by President Donald Trump and Congress to end government-driven debanking and ensure nonpartisan and objective standards for banking regulators.

The poll, commissioned by AFFM and conducted by Guidant Polling and Strategy, surveyed 1,200 likely voters across the U.S. Seventy-two percent support Trump’s executive order to end government-driven debanking, which occurs when regulators pressure banks to close accounts for political or social reasons. That strong support includes majorities of Republicans, Democrats and independents.

“A free market environment drives job growth, lifts wages and supports the growth of communities. In order for the free market to succeed, it must be free from unnecessary and vague government interference,” AFFM Executive Director David Ibsen said. “Americans overwhelmingly support the efforts of President Trump and Congress to advance a pro-growth agenda and permanently rid our regulatory system from subjective, politicized laws.”

The survey findings come as the Federal Reserve Board recently issued a Notice of Proposed Rulemaking that would remove reputation risk from its supervisory programs, a move AFFM says reflects continued momentum to curb politicized regulatory overreach.

Of the survey respondents, 91% said federal regulators should enforce banking laws using objective standards rather than political or reputational considerations. Eighty-nine percent agreed that a healthy free-market economy depends on the fair and even enforcement of rules, not subjective government actions that reward or punish businesses based on politics. An additional 82% said private businesses should be able to make their own decisions about who they legally serve without fear of political retaliation from federal regulators.

Former Republican U.S. Sen. Pat Toomey of Pennsylvania, an AFFM advisor, said the results should spur congressional action. “Access to banking services is fundamental to the modern economy and must be safeguarded against heavy-handed government overreach,” he said. “Congress should heed this call by enacting legislation that safeguards consumers, now and in the future, from this unnecessary government intervention.”

The topic has also been of ongoing debate in the Sunshine State. Associated Industries of Florida President and CEO Brewster Bevis discussed how increased regulation raises costs for consumers and stifles economic growth in an op-ed last year.

“Overregulation is increasingly frustrating when it’s not backed by sound science. Oftentimes, these policies have little — if any — measurable benefit for the communities they are intended to protect,” Bevis said.

“When we pursue and advance free market policies, we are rolling out the welcome mat for innovation. We are inviting young entrepreneurs to establish, build and grow their businesses here in Florida. These actions lead to economic impact, job growth and a brighter future for all Floridians.”

AFFM is a national coalition of groups including Associated Industries of Florida, the James Madison Institute, the Florida State Hispanic Chamber of Commerce and the National Taxpayers Union, united in support of free markets and economic growth. The group argues that a strong financial system, free from political interference, is essential to American prosperity and national security.

You can read the full survey findings online.