According to Dan Peek, "Today's the Day" was the inspiration for the Rod Stewart hit "Tonight's the Night (Gonna Be Alright)" a US #1 single for eight weeks from November 1976 to January 1977 which also afforded Stewart an international smash hit.

Peek would recall that one evening when he and his guest Rod Stewart were playing together in Peek's home recording studio, "I played 'Today's the Day', the song I had been working on.

'"[1] Cash Box said the song has "a nice melody that builds to a certain tension" and that "the harmonies here seem to melt into one voice.

The final Top 40 hit for America as a trio, "Today's the Day" was also America's third and final #1 on the Billboard Easy Listening chart which it topped for two weeks.

[4] Internationally "Today's the Day" appeared on the charts in Canada (#16),[5] Australia (#55), and France (#67).