Congress is back in session today, with tax reform at the top of their to do list. Not only will you be watching to see if your tax burden is going to go down, Corporate America, and investors, are too.
Economist Peter Morici says that's because things have been going so well for the last year.
“Profits have been robust. They’ve been growing,” Morici told KTRH News.
But he also says that if the Senate doesn't pass their tax plan, and if tax reform fails, it will impact the market. If that happens, the entire economy will feel it, too.
“We could have a recession, simple because businesses finally decide things are never going to get better in the United States, and that in a couple of years Democrats are going to be back in power,” Morici explained, adding that a recession, if it happens, would have devastating impacts on the middle class.