By Larry Kane

PHILADELPHIA (CBS) — This is a very big week for President Barrack Obama and Republican presidential candidate Mitt Romney with a major decision expected as early as Monday from the United States Supreme Court on the big health care law.

It has been 12 years since the Supreme Court decided the election in favor of George W. Bush. Sometime this week, maybe today, the conservative leaning high court will decide to strike down the health care overhaul, keep some aspects of the bill, or keep the bill altogether.

Whatever the court decides, there will be implications.

If the law is struck down, it would appear to be a victory for Romney, but a flat out rejection of the entire bill could energize the President to turn the campaign into a referendum on the  future of the court.

Several national tracking polls in the last few days indicate President Obama is slightly regaining the lead.

If the election remains close, the Supreme Court decision on health care could move the needle either way.