The Tax Cuts and Jobs Act of 2017, President Trump’s first legislative victory, is slightly losing favor with Americans, according to a new poll.

In January, 30 percent of Americans said the measure was a good idea, but now only 27 percent of Americans believe that is the case, according to a new NBC News/Wall Street Journal poll.

Thirty-nine percent predict that the legislation will render positive results due to a stronger economy and more jobs, but 53 percent anticipate a negative outcome due to higher deficits and unequal benefits for the wealthy and large corporations.

Overall, a 36 percent plurality believe the legislation is a bad idea and a majority disapprove of the plan when asked about the measure’s possible impact.

Trump signed the legislation into law in December 2017 and provided a permanent reduction in the corporate tax rate and an overhaul of the individual code up through 2025.

"Everything in here is really tremendous things for businesses, for people, for the middle class, for workers," Trump said from the Oval Office just before signing in December. "And I consider this very much a bill for the middle class and a bill for jobs. Corporations are literally going wild over this."

“It will be an incredible Christmas gift for hardworking Americans,” Trump added.

The poll was conducted from April 8-11 by telephone. A total of 900 adults participated, and the poll’s margin of error is plus or minus 3.27 percentage points.