Hochul To The Rescue; NY Residents Saved From $70 Monthly Bill

New Yorkers just saved $70 a month.

Whether you voted for her or not, everyone in New York owes Kathy Hochul a big "thank you" this morning. On Tuesday night the New York Governor helped to save everyone in the state from a huge monthly bill.

$70 Monthly Bill No Longer "On The Table" For New Yorkers

This week, Ontario Premier Doug Ford announced that he was going to impose a 25% tariff on electricity exported to states like New York, Michigan, and Minnesota. The fee was a direct response to President Trump's tariffs on Canada and Mexico and was expected to cost most customers up to $70 a month.

There has been what can only be described as "chaos" over the mixed messages coming from the White House. The president's refusal to clarify his tariff plan, announcing and then retracting fees on different products from several countries, has sent the stock market plummeting and prices on food and other goods to rise. In an interview this week, President Trump said that he wouldn't rule out a recession, causing many investors to see a huge decrease in their investments.

Governor Hochul Shares Good News From Ontario

On Tuesday evening Governor Hochul announced that she had had a meeting with Ford to plead New York's case against the 25% electricity hike. Earlier in the day, Ford appeared on CNBC to explain that he was sorry to New Yorkers but felt there was no other option to respond to Trump's "unprovoked" tariffs.

Ford said that Canada was led to believe the tariffs were in direct response to the flow of fentanyl from Canada into New York. But after Canada scrambled to spend billions of dollars in technology and manpower to secure the border, Trump decided to go ahead with the tariffs anyway, making it appear that the fentanyl issue was simply a ruse.

Canada and New York Team Up to Criticize Trump's Tariff Policy

After the meeting with Ford, Hochul announced that the energy tariff was officially "off the table" and issued a strong rebuke of Trump's policies, echoing similar concerns from the Ontario Premier.

President Trump’s trade war is already sending the financial markets into a tailspin and tanking the 401(k) accounts of middle-class New Yorkers. He’s injecting pointless uncertainty into our economy and refusing to rule out a recession. It’s time for President Trump to rescind the tariffs and put our economy back on stable footing.

Trump has continued to double down on his plan, initiating a new 25% tariff on steel and aluminum on Tuesday which raised fears of an economic slowdown even higher and sent stocks falling once again.