Bruce Blakeman’s tax-slashing plan restores hope for New York

As Gov. Kathy Hochul keeps making New York more expensive while pretending otherwise, challenger Bruce Blakeman just rolled out a plan that really would boost affordability.

Blakeman vows to slash state taxes by a whopping $35 billion, about $7,000 for an average family of four.

Low-income taxpayers would benefit most: His plan calls for eliminating state income taxes completely for single filers earning less than $50,000 and for married couples below $100,000.

That means the average couple in 45 of the state’s 62 counties would pay absolutely nothing — zilch.

Bravo!

The GOP wannabe also wants a break for middle-income earners ($100,00 and $500,000), cutting their top rate from about 6% to 4%.

On top of those cuts, Blakeman also promises to “slash utility bills in half” and “deliver real property tax relief.”

If he can make good on even half of all that, he’d reverse New York’s status as one of the least affordable states in America.

Consider: Under Hochul, New Yorkers shoulder the nation’s heaviest tax burden.

Yet nearly every year she’s been in office, she raised taxes of one form or another.

Just this year, she imposed yet another stiff levy — a pied-à-terre tax on high-end city apartments.

And her draconian climate agenda has sent utility bills through the roof, yet she remains committed to it.

Her “fight for affordability” is just gimmicks like those $200 “rebate” checks that don’t even cover one month’s increase in electric bills on her watch.

True, Blakeman’s plan raises questions, like how he’ll “pay for” the lost revenue.

Luckily, the state budget is ripe for whacking.

State spending on Medicaid, for example, has spiraled out of control, to $40 billion last year, or 27% of Albany’s budget.

When you include local and federal spending, it’s well over $100 billion — more per resident than in any other state.

State aid for schools, about $37 billion, is almost as bad. There, too, New York spends the most in America per student.

He can save billions from both those pots.

As of Tuesday, it wasn’t clear if Blakeman also planned to trim New York’s top rates, but that’s vital.

Remember, high earners pay most taxes in New York: Those pulling over $1 million a year cover about 45% of the collective tax bill.

Yet with top combined city and state rates at nearly 15%, they’ve got a strong incentive to flee — and they’ve been doing just that, taking their tax dollars with them.

Hochul herself has begged the rich to return, yet she continues to pile on new reasons to stay away.

We’re eager to hear more about Blakeman’s plan, but it already offers New York more hope than Kathy Hochul ever dreamed of.