Trump and Biden are competing to quarterback the Super Bowl of tax policy

Presidencies are unpredictable — no one can be sure what challenges Joe Biden or Donald Trump would face in a second term. But there is one that’s 100% certain: A colossal multi-trillion-dollar fight over taxes that’s likely to be one of the biggest lobbying battles in policy history.

With large chunks of the 2017 Tax Cuts and Jobs Act set to expire at the end of next year, along with a key piece of the 2022 Inflation Reduction Act, whichever party wins the White House and Congress will have the opportunity to rewrite much of the IRS code. If there’s a divided government, the negotiations will be a massive undertaking that could push both parties in unusual directions. That battle will have major consequences for business, climate, the deficit, and much more.

“This is probably the Super Bowl of tax and economic policy,” said U.S. Chamber of Commerce Executive Vice President Neil Bradley.