The Tax Cut and Jobs Act of 2017 is the Trump administration’s greatest legislative triumph. It was the first major tax reform since Reagan’s Tax Reform Act of 1986 brought what was then 14 personal income tax rates ranging from 11 percent to 50 percent down to two — 15 percent and 28 percent — and the corporate rate fell from 46 percent to 34 percent.

So what is the next step for tax reform? And must we wait another 31 years?

There are three potential paths forward: one if the Democrats gain control of the Senate and White House; a second if Republicans win back the House, restoring unified Republican government; and a third if the government continues to be divided, with Republicans or Democrats holding at least one legislative body — the present gridlock.

The future depends on who wins the November 2020 elections.

The Democrat plan is clear. First, repeal the Trump tax cuts. Raise the corporate rate from 21 percent back to 35 percent, once again the highest in the world. Increase the personal income tax rate for all taxpayers. End the 20-percent exclusion for small businesses and return to the double taxation on income earned overseas by