The more voters learn about the proposed $700 billion federal bailout plan for the U.S. economy, the more they don’t like it, according to a new Rasmussen Reports national telephone survey taken Monday night.

Now 44% oppose the taxpayer-backed plan, up seven points from 37% yesterday. Twenty-five percent (25%) support it now, versus 28% in the earlier poll. Thirty-five percent (35%) were undecided before; now 31% are (demographic crosstabs available for Premium Members).

While 35% think the bailout plan will help the economy, nearly as many (30%) say it will hurt, and 13% believe it will have no impact at all.

But, despite their concerns, 74% of voters also believe it is at least somewhat likely to be approved by Congress this week.

Voters are fairly evenly divided over which of the major presidential contenders they trust more to oversee the plan which will be in place for at least two years after its passage. Forty-nine percent (49%) trust John McCain more, 43% say Barack Obama. Women voters, who generally favor Obama over McCain, are evenly divided at 45% each. Men trust McCain more by a 53% to 40% margin.

In separate surveys, voters show a similar divide. Voters trust McCain slightly more on the economy, but they give Democrats as a group the edge over Republicans in the handling of economic issues.

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The plan proposed by Treasury Secretary Henry Paulson would give the Treasury Department the taxpayer-funded power to buy up to $700 billion in mortgage debt from private firms. The Bush administration contends this is a systematic way to deal with the country’s growing economic crisis, fueled by bad mortgages, as opposed to responding case-by-case. The plan was prompted by a series of high-profile bankruptcies and near-bankruptcies which sparked turmoil in the stock market.

To gain approval by congressional Democrats who lead both the House and Senate, Paulson has reportedly agreed in the last two days to closer oversight of Treasury by Congress, restricting the income of executives whose companies benefit from the bailout and helping more homeowners facing foreclosure.

Sixty-three percent (63%) of voters agree that the plan should include limits on how much is paid to executives and bankers whose companies are helped by the bailout. Eighteen percent (18%) are opposed to the idea.

But conservative Republicans are beginning to balk at the unprecedented size of the bailout plan and whether it will even work. Democrats are hoping to add billions more in domestic spending to the package, including $25 billion in loans for the deeply troubled “Big Three” automakers.

McCain now describes himself as 'deeply uncomfortable' with the plan, while Obama is offering a plan of his own for increased regulation of financial markets.

A survey taken last week before the bailout plan was announced found that neither presidential candidate had convinced a majority of voters that they know how to handle the country's growing economic problems.

Nationally, the race between Obama and McCain is very close in the Rasmussen daily Presidential Tracking Poll.

Women by a narrow 34% to 31% margin think the bailout plan is more likely to hurt than help the economy. Men say it will help 40% to 25%.

While Republicans in Congress are more skeptical of the plan, 32% of GOP voters favor it versus 23% of Democrats. Forty-one percent (41%) of Republicans and 45% of Democrats oppose the plan. Unaffiliated voters oppose it 47% to 18%.

Forty-four percent (44%) of Republicans say it will help the economy, but only 33% of Democratic voters agree and nearly as many (31%) say it will hurt. Twenty-six percent (26%) of Republicans say the plan will hurt the economy. Again slightly more unaffiliateds (32%) think it will hurt versus 29% who believe it will improve U.S. economic conditions.

In a separate survey last week, only seven percent (7%) of voters thought the federal government should use taxpayer funds to keep a large financial institution solvent.

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