SHELBYVILLE, IL…State Representative Brad Halbrook (R-Shelbyville) issued the following statement after speaking on the House Floor about Illinois’ estate tax in light of the United States House of Representatives’ recent passage of the “One, Big, Beautiful Bill Act.” In the bill, a plethora of major tax changes were included, such as increasing the estate tax threshold from $13 million to $15 million beginning in 2026 that will grow with inflation.
“This legislation will be a game changer for many, especially those in farming and rural communities, allowing folks to keep their land and businesses when a family member dies, instead of surrendering it to pay a tax bill,” said Rep. Halbrook. “Illinois is only one of a few remaining states that imposes a state estate tax, meaning Illinoisans will owe taxes to the state, but not the federal government, making it nearly impossible for future generations to preserve the legacy of their parents and grandparents.”
“The loss in revenue Illinois would see as a result of ending this tax does not even equal what the Governor wants to spend on healthcare for illegal immigrants. Next, this will help keep successful Illinois retirees, including family business owners and farmers, from leaving our great state. Finally, by choosing to get rid of the estate tax, we work to provide real relief for Illinois farmers and business owners.”
“The Illinois estate tax is a tax on success, a tax on generation wealth, and a tax on dreams. It punishes those that have planned, saved, and invested in our communities for decades,” concluded Halbrook.
For more information, contact Rep. Halbrook at (217) 342-0220 or by visit RepHalbrook.com.
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