state    governments, 1.36.  Among tax cuts, multipliers ranged from 1.29 for a payroll tax holiday down to 0.27 for accelerated  depreciation .  Making the  Bush tax cuts  permanent had the second-lowest multiplier, 0.29. Refundable lump-sum tax rebates, the policy used in the  Economic Stimulus Act of 2008 , had the second-largest multiplier