The fate of the 2017 GOP tax overhaul is top of mind for corporations in the weeks leading up to the election.

Many of the law's provisions are expiring in 2025, setting Congress up to negotiate another major tax law. Corporations are closely watching what happens to bonus depreciation, interest expense deductions, and research and development expensing, S&P Global Rating Managing Director Shripad Joshi said. Plus, both presidential candidates have campaigned on changing the corporate tax, which the 2017 law permanently lowered to 21%.

Without knowing who will control the White House and Congress next year, it's difficult for corporations to plan ahead. Right now, they're reviewing tax proposals that may be considered and modeling how different scenarios could impact them. That means figuring out where their tax weaknesses lie and parsing out which changes could hurt or help cash flow the most.

On this episode of Talking Tax, Bloomberg Tax reporter Erin Schilling talks with Joshi about how corporations are dealing with this uncertainty and which tax policy changes will affect them the most.

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