The recent market melt-up may be in part due to the resurgence of tax reform talk, but that's not necessarily key to the bull run continuing, investing expert Jason Ware told CNBC on Thursday.
While recent highs may be attributed to tax talk, it has been the economy and earnings that have driven stocks higher overall this year, said Ware, chief investment officer at Albion Financial.
"We're at a phase in the secular bull market where earnings are more important than anything else," he told "Power Lunch."
On Thursday, the House passed a $4.1 trillion budget — the first concrete step toward tax reform. Later in the day, the Senate Budget Committee approved its budget resolution. The Senate's budget now heads to that chamber's floor for a full vote, expected after Oct.16.