For Immediate Release

May 28, 2025

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Republican Congressional candidate Jim Oberweis today stated his unequivocal support for  extending President’s Trump’s tax cuts for all Americans but stands with those Congressmen  who believe that federal spending cuts should be deeper and come sooner.  

Channeling President Reagan’s iconic question, Oberweis asked, “Does anyone seriously believe  that we have a budget deficit because we aren’t taxed enough? No! Everyone understands we  have a budget deficit because the government is too big and spends too much!”  

Oberweis, a successful mutual fund portfolio manager, business leader, and entrepreneur  outlined the consequences if House Republicans squander what he believes is a once-in-a generation chance to fix America’s worrisome economic trajectory. “An expert in finance and  economics, it is my responsibility to warn of the dangers of a huge national debt and massive  unfunded liabilities. If we don’t stop the unsustainable path of our national debt, we will  eventually face the consequences of much higher interest rates and hyper-inflation,” declared  Oberweis. 

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House Speaker Mike Johnson has signaled his intention to call for a re-vote by the full Budget  Committee as early as tonight. 

“As a fiscal conservative myself, I am very sympathetic to my fellow Republican conservatives  eager to cut more federal spending to reduce the deficit,” stated Oberweis. “In the end, I  believe the bill extending President Trump’s tax cuts must pass and will pass. But I also believe  that for far too long, American taxpayers have been suckered into accepting increased spending  today, with the promise of spending cuts to come tomorrow. As we all know, those spending  cuts never come. As a fiscally conservative Republican, the time to take that stand is now!”

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“I believe the President’s ‘big, beautiful bill’ will pass,” predicted Oberweis. “Republicans in  Congress know that if they do not extend the 2017 Trump tax cuts, Americans will be hit with  the largest tax hike in our history,” warned Oberweis, citing a White House report. “The  average American family’s taxes will increase by $1700 dollars, and the Child Tax Credit will be  cut in half for 40 million families. The typical taxpayer in my Congressional District will see a  22% tax increase. That is outrageous and unacceptable!” declared Oberweis. 

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“Second, if Republicans fail to pass the tax cut bill, inflation –the most insidious tax of all-- will  increase, as the government is forced to print more money to pay the debt,” said the  Congressional candidate and successful investor. Oberweis continued, “Economic history  proves that when you cut taxes, revenue to the Treasury increases. So, any Republicans who  worry about ‘paying for’ the tax cuts just don’t understand their economy history.” 

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“Third, conservative Republicans cannot afford to lose a game of ‘chicken’ with ‘blue state’  Republicans attempting to hold the federal bill hostage for the mistakes of their Democrat controlled, high-taxing state legislatures,” declared Oberweis. “Otherwise, we will forfeit the  opportunity to make generational change. The scenario is very clear: If President Trump loses  this vote, taxes will increase, inflation will ensue, and Republicans will lose control of Congress  in 2026 as a result. That means President Trump’s agenda will grind to a halt, the change we  voted for will languish, and the President’s final two years in office will be spent defending  himself at Democrat-run impeachment trials.” 

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Said the Bonita Springs Congressional candidate and finance expert, “On Friday, Moody’s  downgraded America’s ‘AAA’ credit rating, citing the ‘unseriousness’ of American leaders to get  America’s debt under control. The consequences of this means Americans will be paying higher  interest on the USA’s debt…not exactly a step in the right direction.” 

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“President Trump has been working feverishly to increase investment in America, while  aggressively slashing wasteful government spending,” cited Oberweis. “I intend to stand  shoulder-to-shoulder with the President to shrink government, cut taxes, spur growth, and  unshackle the American economy. It’s time we got government off-our-backs and out-of-our pockets!’”