Canton Repository

June 9, 2006

Timken denies lobbying for repeal of estate tax

By Paul M. Krawzak
Copley News Service

WASHINGTON The Timken Co. and a spokesman for the Timken family denied a claim by a watchdog organization that the family or company bankrolled a campaign to repeal a tax on the estates of wealthy Americans.

In an April report, the Washington, D.C.-based Public Citizen said Timken was among 18 “super wealthy” families that “have quietly helped finance and coordinate a massive campaign to repeal” the tax.

As evidence, the study noted that in required lobbying disclosure reports, the publicly held company listed “estate tax repeal” as among the issues it lobbied Congress on between 2000 and 2003.

“As far as I’m aware, the company has never taken that kind of position either for or against estate tax repeal,” Timken spokesman Jeff Dafler said.

He said estate tax repeal was listed in the disclosure reports because it fell within other tax cut bills that the company supported.

Jonathan Crawford, executive director of Timken Family LLC, an office that handles the family’s private affairs, said “as far as I know” the family has not been involved in the campaign against the tax either.