State Representative Adam Niemerg (R-Dieterich) has sent a letter asking Governor JB Pritzker to assist with the effort to increase the estate tax exemption enabling farmers to pass their family farms to their heirs. Niemerg has introduced legislation (HB 5230) to double the exemption from $4 million to $8 million, but the bill has never even assigned to a legislative committee for a hearing.
“We need to protect our family farms,” Niemerg said. “My preference would be to eliminate the estate tax altogether but if the political will does not exist to eliminate the tax, let’s at least raise the exemption to ensure families are able to pass their farms to their heirs. It is time for Democrats and Republicans to come together to protect our farmers.”
Niemerg noted Governor Pritzker has already expressed support for raising the exemption. At a recent forum sponsored by the Illinois Farm Bureau, the Governor stated, “I think it’s totally reasonable for us to have a conversation, especially in light of inflation, about lifting the cap on that so that the exemption is higher than where it is today. It is important that we maintain family farms in our state. This is part of the legacy and history and important future of our state.”
“The Governor seems to support increasing the expansion and legislation already has been introduced to accomplish this goal,” Niemerg said. “Let’s work together in a bipartisan way to get this done for our family farmers.”