The Hudson Valley is once again playing host to a costly and hotly contentious congressional race.

The race includes charges like these, from Republican John Faso, speaking of his opponent, Democrat Zephyr Teachout: “I have a free-enterprise, market-based approach. My opponent is a socialist. She wants the government to do everything,” Faso said.

For her part, Teachout has blasted Faso’s resume as a state assemblyman and, for the last decade, a prominent lobbyist in Albany.

“People aren’t looking for a lobbyist to take on corruption in Washington and he’s sort of the ultimate insider,” Teachout said.

Both candidates will face off in an exclusive debate on Time Warner Cable News at 7 p.m., live from the Woodstock Playhouse.

But the race has also focused on policy: Faso has pledged to reign in taxes and regulations in Washington, and criticized Teachout’s stance in opposition to the state cap on property tax increases.

“It matters because it shows the general philosophy. She’s going to raise taxes on middle class New Yorkers,” Faso said.

Teachout says she’d rather see a circuit-breaker, which links tax relief to a household’s income.

“There are people who are paying 10 percent, 20 percent of their income, on property taxes,” Teachout said. “It really affects our seniors, it really affects people who have property in their family a long time and it’s something I’m really committed to pushing for.”

Faso says he wants to continue the legacy of outgoing Republican Rep. Chris Gibson, who is retiring this year after three terms. Two years ago, Gibson fended off a well-funded challenge from Democrat Sean Eldridge. Like Faso this year against Teachout, Gibson knocked Eldridge for his tenuous ties to the district, applying the carpetbagger label to the first-time candidate.

“I want just like Chris Gibson has done, who’s endorsed me, just like he’s done, we need to work across the aisle to figure out how do we solve the problems of our country,” Faso said.

And Teachout says that if elected she’d focus on aiding small businesses, not large corporations.

“You hear a lot about independent businesses who are really struggling and have been struggling for a while,” Teachout said. “The big businesses are doing fine. The big corporations are doing fine.”

Both candidates do have at least on thing in common: Running for governor. Faso sought the job in 2006, losing to Eliot Spitzer. Teachout unsuccessfully sought the Democratic nomination against Andrew Cuomo in 2014.