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You're able to have two accounts tied to one E-mail address on Steam.
There's no "rule" or anything in the SSA that suggests that Valve is against it.
You've read the SSA and other terms when you created your account.
That's your legal agreement, and nothing in there says that you can't use an E-mail for two Steam accounts.
I can't possibly provide with a link to explicitly show this.
Though, the SSA has valid information...
https://store.steampowered.com/subscriber_agreement/
In fact, myself and many others on Steam do.
You can family share games between your accounts. You can only run games on one at a time but since you own both that won't be an issue.
On the subject of bans, it should be added, that if you receive a VAC ban (cheating), it will affect all accounts that are associated with the same email and/or mobile phone at that time.