In 2024, Donald Trump’s victory was powered in large part by massive gains with Latino voters. He won 48 percent of those voters that year, up from 36 percent in 2020 and 28 percent in 2016. But now, that support is plummeting; Trump’s approval rating among Latinos who voted for him recently fell from 93 percent to 66 percent, where it was at the beginning of his second term.

Why? It has a lot to do, as with everything these days, with the economy. 

It was the same in 2024. During that election, voters were experiencing rising costs and stagnant wages — the same trend that has continued until today. In 2024, though, Joe Biden and his administration — which also meant Vice President Kamala Harris — took the blame from all voters, and particularly Latinos. Today, the blame is falling on Trump. 

America, Actually host Astead Herndon caught up with Stephanie Valencia, who co-founded Equis Research, a political research firm that specializes in Latino voters, to unpack some of these recent shifts and explain them. 

“I think one important data point to understand about the Latino voter is Latinos make up more of the wage workforce than any other part or any other racial subgroup,” she said on the podcast. “And so what that means is when wages are down and inflation is high, Latinos feel it more.” 

That’s why, when the economy is bad, this group is primed to be a “swinging giant” in US politics, Valencia explains — and right now, it appears to be swinging hard against Trump. 

Below is an excerpt of the conversation, edited for length and clarity. There’s much more in the full show, so listen to America, Actually wherever you get your podcasts or watch it on Vox’s YouTube channel.

Equis has called Latinos one of the last great wild cards in American politics. Is that because of some of the double-digit swings that we’ve seen among this voting group over the past few elections?

Yes, it absolutely has to do with that. Latinos often get given the title the “sleeping giant,” which I just want to get rid of from everybody’s vocabulary. 

We should be called the “swinging giant” based on how much shift we have seen election to election. A third of Latinos consider themselves kind of independent or apolitical, and that swinging middle really is deciding every single election.

Your playbook gets into messengers and particularly how we reach folks where they are. It makes a Spanish-Spanglish distinction talking about the different types of media that Latino voters consume. 

I wanted to ask, in that vein, what’s the single biggest mistake campaigns make in terms of not reaching folks where they are?

Oh man, how long do we have so I can tell you how many mistakes? They’re really simple unforced errors. I’m going to give a very concrete and simple example that I think illustrates that. 

Look, I’m Latina. I grew up speaking mostly English, but I listen to Spanish-language radio. I watch a lot of YouTube, and on YouTube I’m watching people like Karol G and Carin León. A lot of people — a lot of Latino swing voters — have the same media consumption habits that I do.

The first problem or challenge that a lot of candidates make is they just simply translate their English ad into Spanish. And that is, to me, one of the biggest mistakes because there are a lot of things that people want to be communicating in Spanish that don’t translate word for word. There are sayings in Spanish that don’t translate directly from English or more direct ways you can communicate.

I’m sure it immediately reads Google Translate rather than an original message for said community.

Exactly. So that’s mistake No. 1. Mistake No. 2 is when they’re deploying that ad digitally, as a proxy for talking to people, they’re going to use Spanish-language browser settings. So they say, “We don’t want people who speak English to see the Spanish-language ad.”

So the way they find that set of voters is just by going to people who have Spanish-language browser settings. 

Like I said, I don’t have a Spanish-language browser setting. Everything I consume online is set in English on Chrome, but I still watch a lot of content in Spanish on YouTube.

So you’re missing a voter like me who’s going to see a Spanish language ad from a James Talarico or a Manny Rutinel and be turned on by it because I’m going to say, “Hey, that candidate’s speaking to our community. That candidate has enough respect to develop a Spanish-language ad.” 

We did some testing a couple of years ago that showed that over 70 percent of Latinos who see an ad in Spanish think that party or candidate cares more about Latinos. It matters that much.

Let’s stay in 2024 for a second longer. Your research found that Project 2025 and Trump’s mass deportation plans were not top of mind for most people, and that they were thinking about the economy. I wanted to ask about that because I remember the RNC signs at the convention saying, “Mass deportations now.” One number says that 62 percent of Latinos now think that Trump wants to deport undocumented immigrants broadly. 

Why did it take till post-election to realize those threats of mass deportation were real considering they were so front and center during his campaign?

I think this is really important for us as avid news consumers to understand the kind of news that the average voter, and especially that voter who’s coming in and out of elections, is consuming.

What they were seeing on mainstream media, perhaps even Fox News at the time, was a focus on people or Trump surrogates who said he was going to focus on serious criminals, securing the border, and violent criminals.

And so that’s what people bought. Fast-forward to 2026; the people who feel most regretful who voted for Trump in 2024 are most regretful because of immigration. They feel like there was a broken promise there. 

They were told he was going to focus on the border, which everybody agreed was chaos, and he was going to focus on violent criminals and serious threats, and at the end of the day, he has not complied with that.

And then add that to the litany of broken promises.

I’m hearing a distinction between a focus on the border, which Republicans did try to prioritize rather than the interior deportations that may have been more attributed to Stephen Miller than Donald Trump. But we have certainly seen that be a focus of the administration once they came back into office.

You mentioned the shift that has happened since 2024, and that’s really important, of course. Trump’s approval rating with Latinos is now worse than with non-Latinos, a stunning reversal in 18 months. 

You mentioned the factors that have contributed there, but is this really just the economy?

It’s the economy, it’s the war, and it’s immigration. It’s those three things. 

One thing that is really interesting to note about Trump’s approval, other than that it’s at basement levels — and he’s very much pulled down the GOP with him broadly and with Latino voters — is that in Trump 1.0, his approval on the economy and the cost of living was actually better than his everyday approval on his total job.

And he has been underwater with Latinos almost this entire term so far on the cost of living and the economy. It’s almost been a complete and total reversal.

Listen, you tell people you’re going to fix egg prices and gas is going to go down, and then you do the opposite, and we’re hearing that story universally across different electorate groups. 

You’re saying that’s still the main story when it comes to Latinos also?

Yes, it’s still the main story. I think one important data point to understand about the Latino voter is Latinos make up more of the wage workforce than any other part or any other racial subgroup. What that means is when wages are down and inflation is high, Latinos feel it more. 

We have less savings. We have lower rates of home ownership. So the safety nets that other people might have, we just don’t have. 

That really has exacerbated the kind of impact that people are feeling right now as they’re trying to make ends meet.

You mentioned the exponential growth in the terms of people who now regret or are disappointed with their vote for Donald Trump. Does that mean a preference for Democrats? How should we think about the binary choice between D and R versus what is a clear story about a backlash to Donald Trump’s actions?

I think it is a huge mistake for Democrats to rest on their laurels and think that because of what people are feeling about Trump and Republicans and the sense of disappointment and promises broken that that is automatically going to translate for them as a party and as a brand.

Right now, the Democratic brand has suffered a repeated set of blows among Latino voters. Twenty years of comprehensive immigration reform hasn’t been delivered. It’s a thing that comes up in almost every focus group. 

And part of what the build-up to 2024 was, was not only 20 years of a promise undelivered; it was the chaos at the border, it was feeling like Democrats were focused on everything but Latinos and their families, or everyday Americans and their families, and that they had lost that thread.

Welcome to The Midterms, Actually. Every week I’ll be writing about two things: one big idea or trend I see forming across the 2026 primaries, and one thing I’m hearing from a voice on the ground. You can sign up here to get it in your inbox every week. Let’s get into it.

One big idea: It’s decision time for Kamala Harris

On Wednesday, LinkedIn co-founder and Democratic Party megadonor Reid Hoffman threw cold water on the prospect of a 2028 presidential campaign from former Vice President Kamala Harris. “I think it would be a very challenging path for her and it’s going to be a very noisy field,” Hoffman said when asked at a Politico event in Washington, DC, whether Harris should run again.

His statement comes the same week CNN aired an interview with California Gov. Gavin Newsom, who told Jake Tapper (while fly-fishing?) that he would not run for president if Harris did so — a curious move from someone who swung through South Carolina barely two weeks ago, and who has long been treated as a presumed frontrunner for 2028.

Taken together — and thinking back to our America, Actually episode on the question of whether Harris will run — I think you’re seeing the early stages of what I’d call a light public pressure campaign.

Let me explain: Harris has been curiously mum on most things politics since 2024, but it’s clear she wants to be taken seriously as an option for 2028 and has weighed in from time to time on issues (this week it was AI safety). When we recorded our episode in June, her allies emphasized two political points over and over: She’s leading the early 2028 polls, and nobody has supplanted her with the two groups that anchor the Democratic base, Black voters, and women. But they stressed something else, too. Her former communications director Jamal Simmons told me Harris “should do what makes her happy,” and that “she’s earned the place to run, earned the right to run.” Harris surrogate Erin Wilson put it more sharply: “The idea that she does not deserve the opportunity to make that decision — or that she does not deserve the opportunity to put an infrastructure in place beyond the construct of 107 days — I think is incredibly unfair.”

To me, it seemed the group was less interested in making the case that Harris should run in 2028, and more interested in pushing back against an emerging elite consensus that she shouldn’t. They were fighting for the right for her to choose for herself, without Washington input or pressure from the media. And it came with an implicit acknowledgment: They understood that the party’s biggest donors, whose money and access shape much of the early stages of a presidential race, had moved on from Team Harris.

Hoffman’s statement is particularly notable because of the ideological lane he occupies. He’s not just any rich Democrat — he’s bankrolled several of the party’s newest post-2024 ventures, from the abundance-adjacent WelcomeFest crowd to the $10 million he put behind a super PAC boosting James Talarico’s Senate bid in Texas this summer. If Hoffman’s asking Harris to move on, that’s likely representative of the larger left-of-center apparatus, which is looking for a unifying contender who can fend off a challenge from the activist left in 2028.

Here’s what John Morgan, another big Democratic donor, told me about Harris over the summer:

I do not [want her to run]. I think that everything associated with the Biden administration needs to be put to the side and moved on. … I just think that everything that happened has left a bad taste, and we need a fresh start on that side of the aisle.

As Morgan also pointed out, this was once a group that backed Harris — or at least was initially open to her, even dating back to her first presidential run. Now, he says, the math doesn’t work:

I don’t think the money would come to her and the votes wouldn’t come. … Her natural base is gonna be California, and she’s gonna be competing heavily with Gavin Newsom in California. So they’re gonna be kind of cannibalizing each other’s donors.

Which brings us to Newsom, another left-of-center Bay Area Democrat with a long history of friendly rivalry with Harris who surely knows these donors have had a change of heart. He knows the Reid Hoffmans and John Morgans want a fresh face. He also knows Harris’s allies are right: Just as we heard in South Carolina, Harris maintains favorability among Southern Black voters specifically, and they’re likely the most important voting bloc of any Democratic presidential primary. 

And remember, candidate timing matters: A former vice president with universal name recognition like Harris could take a playbook from Joe Biden, who let Democrat after Democrat announce before he finally entered the 2020 race in April 2019. (And I imagine Newsom also watched Harris freeze the California governor’s race for months — leaving state Democrats in the dark as she decided whether or not to enter.)

So what’s a governor to do? 

Here’s what I think is happening this week: Newsom is putting pressure on Harris to make a decision early. And in doing so, he gives donors an incentive to make clear what they’re saying privately: They don’t want Kamala Harris to run.

It’s cynical, but that’s politics — and I think it’s a much more likely scenario than the one where Newsom earnestly gives up his agency to a longtime political rival. And notably, while the headlines focused on his pledge not to run if Harris gets in the race, I think the setup to it was even more telling. Before making the pledge, Newsom volunteered his own doubt that there will be anything to defer to: “I don’t know if she runs, but we’ll see. But I wouldn’t run if she ran.”

Democrats know Harris’s decision will have a big domino effect on the rest of the race — so much so that it’s worth getting answered early (meaning: as soon after the midterms as possible). But the comments from Newsom, Hoffman, and others should be instructive to Team Harris — and anyone who wants her to mount another presidential campaign. 

This would not be 2020, or even 2024; if Harris were to run, she would likely do so without much support from the major liberal institutions or the left-of-center donors.

In a time of anti-elite backlash and grassroots anger at things like the rise of artificial intelligence and corporate consolidation, that could be an opportunity to embrace a more populist, bottom-up message. There’s just one problem: Is that who Kamala Harris is?

What I’m hearing

This week I talked to Sean Scott, a reporter following faith, immigration, and politics for the Maine Monitor. I wanted to ask him about how the Senate race is playing out from a local perspective — and specifically about how issues like immigration have manifested on the campaign trail.

There’s been so much focus on the candidates in the Maine Senate race — but you’ve been tracking some of the issues that have locally shaped the race. What’s one that has come up in Maine? And how has it played out? 

Immigration policy has been a big issue in Maine this year, and it came to a head this summer after ICE agents shot and killed 26-year-old Johan Sebastián Durán Guerrero in Biddeford. The shooting occurred shortly after former Democratic Senate candidate Graham Platner had dropped out of the race because of sexual assault allegations, and many of the Democrats vying to replace him went to Biddeford to speak out against the Trump administration’s approach to immigration enforcement. This included the eventual nominee, Troy Jackson, who said ICE should be dismantled.

Republican Sen. Susan Collins, meanwhile, has drawn scrutiny for her role in negotiating funding for DHS. Protesters stormed her Biddeford office the day of the shooting, calling for her to be voted out. Collins has said she’s pushing for reforms within the immigration agency, and said she asked ICE officials to prioritize Maine as they rolled out body cameras. But the investigation into the fatal shooting is still ongoing, and I think many Mainers are waiting to see if the agency will be held accountable.

Donald Trump’s push for hardline immigration enforcement has been deeply unpopular. Are there any surprising coalitions that have developed in Maine in response?

I cover religion, and one thing that has been really interesting to me this year is the way coalitions of progressive faith leaders have responded to the administration’s mass deportation efforts. This was especially visible during the federal immigration enforcement surge Maine saw in late January. Faith leaders formed a “human wall” outside a business with an immigrant workforce to try and protect them. Nine faith leaders were arrested for trespassing during a pray-in at Sen. Collins’s Portland office, calling for her to vote against any DHS spending bill that would maintain funding for ICE. Faith leaders were instrumental in coordinating mutual aid efforts to help families who were afraid to leave their homes — one minister told me she collected rugs for an immigrant family with young children living in an apartment, worried that a noise complaint could lead to their detention. And a multifaith coalition held a weekly vigil at the jail in Portland for months while immigration detainees were being held there. That jail ended its contract with ICE in April. Just last week, a coalition of clergy from different faiths in Bangor came together to demand that a landlord terminate a lease with ICE.

You’ve been following the rise of Turning Point USA in Maine and the network of evangelical churches that has been central to that rise. How intertwined is the conservative faith community with Republican politics in Maine? 

Maine is one of the least religious states in the country, so it isn’t always front of mind for people. But I reported this spring on one network of evangelical churches that has taken an increasingly active role in politics in recent years, and on how we’ve seen some Republican lawmakers in Maine become more explicit about tying their faith to their politics since Trump took office. The state Senate minority leader started a weekly men’s Bible study for legislators last year. That Bible study, plus increased public outreach by a Christian lobbying group and an expanded prayer caucus at the statehouse, show how conservative Christianity has become more visible in Augusta over the past two years. And Charlie Kirk’s death has certainly spurred greater interest. As of May, Maine had at least 28 church-based Turning Point Faith chapters, twice as many as any other state in New England. The debate over transgender student athletes has been a big one this year, and conservative faith communities have certainly played a role there.

From a national perspective, it feels like the Maine Senate race has maybe gone under the radar since the fallout over Graham Platner, the previous Democratic candidate. Is there still a lot of energy and focus on the race in Maine?

I can’t speak to why the national interest has dwindled, but people are certainly still paying attention here! There’s lots of national money flowing in, and the ads are nonstop.