WASHINGTON (NEXSTAR) - The future of the federal tax code is on the line this election. Former president Donald Trump’s 2017 “Tax Cuts and Jobs Act” begin to expire in 2025 and both candidates are pitching competing plans to alter how much American families and corporations pay. The Harris campaign is vowing to increase taxes on corporations. The 2017 tax bill slashed corporate taxes from 35% to 21%, she’s pitching a compromise of 28%. Vice President Harris promises her plan will not raise taxes on Americans making less than $400,000, and in fact is promising tax breaks to more than 100 million Americans. "We do not think that billionaires should be paying a lower tax rate than teachers and nurses and doctors,” says Harris campaign spokesperson Kevin Munoz. Trump on the other hand vows to extend the 2017 law and slash taxes for corporations who make their products in the U.S even lower to just 15%. The Trump campaign is also floating a share of tax breaks they say are aimed at the middle class. "No tax on tips, no tax on overtime, no tax on Social Security for seniors. Tax cuts that directly help people,” says Trump campaign spokesperson Tommy Piggot. George Washington University Economist Stven Hamilton says Trump’s 2017 needs reforms. "It's too expensive…it is significantly responsible for the size of the US deficit,” says Hamiliton. “We have a social security trust fund that's moving rapidly towards insolvency." Hamilton says Harris’ plan is less of a threat to the deficit but hardly solves the issue. He says the VP plan does present another issue. “It's impossible to increase the corporate tax or the capital gains taxes, which is proposed without the burden of those tax increases falling on people making under $400,000,” says Hamilton. Congress will need to strike a compromise in 2025 to stop the 2017 tax cuts from expiring. Inaction from Congress would mean an automatic increase in taxes across the board.