President Joe Biden’s approval rating has fallen below the 50 percent marker, down to 48% in June, according to a new poll, as his huge spending plans lack bipartisan support.

The latest Monmouth University Poll finds that Biden currently holds a job rating of 48%, the lowest level since he took office in January. His approval was rated at 54% in the January poll, 51% in March and 54% in April, which means he lost 6 percentage points in past two months.

Biden sees a 43% disapproval rating in June, according to the poll published on Wednesday, June 16.

Biden’s approval even dropped among Democratic voters as 86% of Democrats rated him positively in June, down from 95% in the April poll.

Only 19% of Republicans and 36% of independents approved Biden’s jobs in the latest poll.

Despite Biden’s approval drop, Monmouth University Poll’s headline goes another way, saying “Biden Spending Plans Remain Popular.”

“Biden’s large spending plans remain broadly popular, including the Covid stimulus plan passed early in his term (60% support), his proposed infrastructure package (68%), and his proposal to expand access to health care, college, paid leave and other services (61%),” the pollster wrote.

The Monmouth University said that there are concerns about a potential rise in consumer prices resulting from these spending plans.

“Most Americans express some level of concern that these plans could lead to inflation, including nearly half (47%) who are very concerned about this possibility and 24% who are somewhat concerned,” the university wrote. “Those who are at least somewhat concerned about prices rising due to the proposed spending include majorities of Republicans (93%), independents (70%), and Democrats (55%).”

According to the poll, the public’s job rating for Congress has dropped to 21% approve and 65% disapprove from 35% approve and 56% disapprove in April. Congressional approval had been hovering between 30% and 35% since Biden took office.

The latest Monmouth University poll also finds a majority sees the country on the “wrong track.”

“The percentage of Americans who say the country is headed in the right direction (37%) versus the wrong track (57%) has also declined somewhat after hitting an eight-year high in April (46% right direction and 50% wrong track),” the university wrote.