The latest tax-and-spend proposals being discussed by the Democrats would raise taxes for millions of Americans making less than $400,000 annually, according to a new pair of analyses by the nonpartisan Joint Committee on Taxation (JCT). Additionally, the average tax rate for every income category would rise. The Build Back Better Act (H.R. 5376), which was approved by the House, was previously certified by the JCT to result in significant tax hikes for taxpayers of all income levels. For more info, visit Commerce Newswire.