American businesswoman Carly Fiorina, a former GOP presidential and senatorial candidate, told CNBC on Monday that voters are likely reacting poorly to Sen. Elizabeth Warren's slew of government-heavy policy proposals.
"The reason Elizabeth Warren is starting to fade is because people have figured out her plan is for more government every single time, and government has also failed," said Fiorina, who served as Hewlett-Packard CEO from 1999 to 2005.
In 2010, Fiorina lost her Republican bid to become a U.S. senator from California to Democratic incumbent Barbara Boxer. Six years later, Fiorina unsuccessfully sought the 2016 GOP presidential nomination.
Warren, who is seeking the 2020 Democratic presidential nomination, has recently been sliding in the polls. The Massachusetts senator is currently trailing former Vice President Joe Biden and Sen. Bernie Sanders, according to the latest RealClear Politics national polling average. At the height of her popularity, Warren was in second.
Warren's fall in the polls coincided with her heightened attacks on billionaires.
As a progressive champion for her bank-bashing and wealth-taxing proposals, she has also recently unveiled a slew of policy proposals that call for more government regulation.
The proposals likely won't sit well with voters, said Fiorina, especially as the 2020 race will likely come down to moderate voters.
"This race is going to be won by people who toggle in between, who are uncertain," Fiorina said. "That group is not going to be persuaded, ultimately, by an Elizabeth Warren or a Bernie Sanders."
Fiorina, who sparred with President Donald Trump during the 2016 primary, said that ultimately Democrats will need to put their energy into a candidate who can beat Trump rather than who has the best message.
"Trump takes all of the oxygen out of the room," she said on "Squawk on the Street." A spokeswoman for Warren did not immediately respond to a request for comment.
In an interview with CNN, released Monday, Fiorina said that she would not rule out voting for Trump again in 2020 but she said she's been "bitterly disappointed" so far with his performance.
"It depends who the Democrats put up," she said, adding that Trump should be impeached for his alleged pressure on Ukraine. However, she stopped short of calling for the president's removal from office.