Is proposed tax plan a game-changer for the economy?

As the Republicans and Democrats agree on a bi-partisan tax plan, many foresee this compromise as wholly beneficial to the economy. The plan primarily deals with tax cuts, which are now either the same as the Bush tax cuts or have been cut even further across the board. Several small business owners have held back on spending recently in anticipation of tax increases, so the new of a tax cut may help stimulate investment. Some economists see this as something that will most likely improve economic recovery over the next year while others are wary about how much consumers will spend regardless of the tax cuts. This method of fiscal policy works in concert with the recent monetary policy of QE2. In simplest terms, I see this fiscal policy as aiming to stimulate consumption and investment, which would shift the LM curve and is also what the economy truly needs at this point.