If the expiration of tax cuts are offset by the intention of spurring investment, then I don't think it will have a detrimental effect on growth. If tax cuts are on income, money will be spent on consumption. If taxes are low or zero on interest/dividends and capital gains, you'd probably get much more investment since the required return will be a lot lower.
I personally think that will spur investment faster than cutting income taxes but I'm no economist.