Adjusting for reduced tax rate in current Fin.Statements

If the company has deferred tax liability now and the tax rate decreases tomorrow.There will be reduction in the deferred tax rate liability.Does this mean that current income tax expense will go up by equal amount? Or does this means that the company will effectively pay less taxes? I guess my question is 1)how do we balance for the change?and 2) How does this affect this year’s income tax expense and taxes payable?