JCT: Democrats’ Proposals Increase Taxes on Millions of Americans Millions of Americans making less than $400,000 per year would see tax hike. Washington, D.C.--The nonpartisan Joint Committee on Taxation (JCT) estimates the Democrats’ latest reckless tax-and-spend proposal will increase taxes on millions of Americans across every income bracket, with more than half of the tax increases on U.S. Senate Committee On Finance: Two Opposing Views On Biden Administration Tax Hikes