How will the midterms affect the economy?

How will the midterms affect the economy?

With the midterms now in the rearview mirror, the question now is what will happen with the economy.

In the short term, Lone Star College economist Hank Lewis says the markets are not going to get rattled.

“Typically the market has pushed higher, mainly because you don’t have a President who thinks he has the power to do whatever he wants without consequence,” Lewis explains.

That said, unless something changes, that second round of tax cuts the President has talked about may not happen.

“I don’t see that happening given the way Democrats have billed themselves. They feel the first round of cuts went to the wrong segment of the population,” Lewis explained.

But, Lewis says whatever tax cuts were passed last year will remain. That means the extra money you've seen in your paycheck isn't going away.