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Billionaire Wilbur Ross on the election and the candidates' economic policies

Wilbur Ross, chairman of WL Ross & Co., shared his views on the election and the candidates' economic policies in an exclusive interview Tuesday with CNBC's Rick Santelli.

The billionaire distressed asset investor is a senior policy advisor to the Trump campaign.

On a Clinton victory: "I think the equivalent of a third-term of Barack Obama means that we will go into a recession within the next two years," Ross said.

On her policies: "If she gets it through [Congress] ... taxes will go up on businesses. She's announced a $275 billion tax increase," he said.

To watch the broadcast interview in its entirety, you must be a CNBC PRO subscriber.