LOS ANGELES — President Barack Obama’s new $400 billion stimulus package for small businesses could help small-home builders, but the plan doesn’t include any new tax breaks or other programs that could help the builders’ businesses.
The White House says it plans to release its plan this week that would include several measures that would provide support to small-business owners and their employees.
The president’s plan would expand the Earned Income Tax Credit to include small businesses and other workers, and increase the credit for small- and medium-sized businesses to $2,000.
It would also expand the child tax credit to small businesses to a maximum of $2 a day.
The credits would not apply to small employers with fewer than 50 employees.
The president is calling for an increase in the federal minimum wage to $10.10 an hour and a reduction in corporate taxes, but that’s not included in his plan.
Small businesses could also benefit from the tax credits and a deduction for state and local taxes, the White House said.
Obama also wants to increase the Earnest Credit to $500 for new small businesses, and to expand it to include some of the business owners who don’t qualify for the tax credit.
But the White