Due to deep divisions within the party, the GOP tax cut is moving very slowly through Congress. As a result of the delays and the new tariffs, the Trump slump may well be in full swing by the time the bill gets its final approval. What does that mean for the contents of the bill?
The economy will probably need stimulus by that time, but simply extending the 2017 tax cut doesn’t provide any; it is just the status quo. The large spending cuts supported by House fiscal hawks will actually be a drag on the economy. It seems likely, then, that the final version of the bill will look more like the Senate’s proposal than the one contemplated by the House. The spending cuts will be kept to a minimum, and the Trump trinkets–no taxes on tips, etc.–are a better bet than they were a month ago.