Illinois lawmaker suggests estate tax reform for farmers

State Rep. Sharon Chung suggests estate tax reform for farmers -WMBD (Peoria)

This proposal is similar to another bill filed in the Spring that never made it past committee. It was filed by a Republican.

Illinois lawmaker suggests estate tax reform for farmers

BLOOMINGTON, Ill. (WMBD) -- State Representative Sharon Chung said in a town hall Tuesday she hopes to change the estate tax to help Illinois farmers. "Farmers tend to really take the brunt of the estate tax more than your everyday people," she said. An estate is taxed a percentage of all the properties, investments and all other belongings when the owner dies. Currently, if a person's estate is $4 million or less, they are exempt from the tax. …