Relief from high inheritance taxes expires at the end of December 2012. In the article “A storm of inheritance taxes threatens agricultural countries” , Lynne Finnerty claims that the new estate tax exemption will drop to one million dollars and the tax rate will increase to fifty-five percent (Finnerty). Reducing the estate tax exemption while increasing the rate could therefore result in the liquidation of many multi-generational family farms and ultimately a decline in the global food supply. Understanding the effect of inheritance taxes on farm families requires a general understanding of agricultural economics. In Illinois, for example, there are 76,000 farms and more than 28 million acres of agricultural land. Therefore, the average farm size is 368 acres, including hobby farms (“Illinois Agriculture Facts”). Illinois is a major corn producing state and the cost of corn production in 2012 is $832 per acre. The income from a corn yield of 170 bushels per acre at $5.50 per bushel is $880 (Caldwell). So, an average corn farmer in the state of Illinois can expect to earn approximately forty-eight dollars per acre from their corn crop in 2012. The average value of farmland in Illinois in 2011 increased to reach $5,800 per acre (Tartar). These numbers are important to note when analyzing journalistic and political views regarding the effects of inheritance taxes on family farms. The expiration of the tax relief law will negatively affect the next generation of American farmers. Farming does not generate enough income to meet the inheritance taxes that will be owed on a parcel of agricultural land. According to editor Stu Ellis, in "End Estate Tax, Cut Deficit", "Despite the high value of agricultural properties, estates have relatively little cash flow needed to pay the high estate...... middle of paper .....ad2-11e1-9c6b-0019bb2963f4.html>."Kill the death tax." NODEATHTAX.ORG. The American Family Business Institute, 2009. Web. March 24, 2012. .Sanders, Bernie. “The tax code must stop coddling the rich.” Policy. Capitol News Company, LLC, August 3, 2010. Web. March 24, 2012..Tarter, Steve. "Central Illinois Farmland Prices Rise in 2011". pjstar.com. Gatehouse Media, January 4. 2012. Internet. March 24, 2012. Central-Illinois-farmland-prices-peak-in-2011>. Vance, Jason. “USDA encourages the transition of land to new farmers.” The agricultural future. FarmProgress, May 14, 2010. Web. March 24, 2012.usda-encourages-land-transition-to-new-farmers-0-38232>.