From what I understand, live plants use nitrogen, but prefer to use it directly from ammonia, though they can use Nitrite or Nitrate in a pinch. So if you introduce a bunch, they'll mainly take up the waste before the bacteria do, short circuiting (but also eliminating the need for) the bacterial cycle. Over the long term this will decrease nitrates in the water, as you change the water, but don't expect anything dramatic to happen.
Edit: One thing you could certainly do is introduce a mangrove into a tank. They work just fine in fresh water and over a period of a few months will reduce nitrates to zero. Tanks with established mangroves often don't even need water changes done...ever! And despite having a reputation as brackish, they grow just fine in fresh water tanks. They cost only $5 bucks or so to buy each online. Only negative is you'd need go hoodless and get secondary lights for the mangrove, but it might be your best bet.