Expect a renewed bout of spruiking for company tax cuts this weekend after the second quarter GDP results for the US are released on Friday, with forecasts of annualised growth of 4-5%. That kind of result will be taken as evidence of the benefit of cutting company taxes -- except that it's likely to be a one-off effect reflecting what happens when you pump huge fiscal stimulus into an economy already near or at full employment.

Nonetheless, given local advocates of company tax cuts have seized on any evidence from the US they can find to make their case, the Financial Review, the Business Council and the Liberals are likely to cite it as evidence of the need for the Senate to fall into line and pass Malcolm Turnbull's big business windfall ASAP.