Does it matter that this imaginary tax cut won't do anything for the economy, even under the unlikely chance that it passes? No, of course it doesn't matter. It won't help autos, it won't help retail, it won't help housing, it won't drive commodity demand, and it won't offset Fed tightening. But don't take my word for it:
Wall Street Journal:
The House just passed its budget resolution, so stocks are going into melt-up mode:
"Almost immediately, disagreements emerged over how much to cut certain tax rates, which deductions could be eliminated, and whether the tax reform package would be revenue-neutral."
"It's called fake reflation. And you need to go ALL IN"
"This is a huge tax cut for the top 1%...Impossible to square with the president's rhetoric."
