President Donald Trump indicated that income taxes will be reduced or even eliminated for many people due to tariffs, with a focus on people earning under $200,000 per year.

Up to now, Republicans have looked to the Medicaid healthcare program for lower-income Americans and green tax credits for $880 billion in spending cuts over a decade. Education and agriculture programs have been targeted for an additional $560 billion in cuts.

Trump's wide-ranging tariffs have been dubbed "worse than the worst-case scenario," but the specifics of the plan and what it'll mean for you have continued to change.