U.S. Rep. Pete Visclosky, D-1st, released the following statement on Friday, after voting against the American Clean Energy and Security Act, legislation which would establish a cap-and-trade regime to reduce carbon emissions in the U.S.

“Climate change is real. It is a serious problem that threatens our way of life, and I am committed to working to solve it.

“Although significant progress has been made on this bill on a number of fronts that would hold down the cost of electricity to residential and industrial customers and help level the playing field for our steel and manufacturing industries that face international competition, the bill still falls short.

“The legislation introduced today leaves no margin of error as it relates to jobs in the domestic steel industry, stoking my greatest fear that it will result in a net loss of jobs in Northwest Indiana. I remain seriously concerned about the long-term ramifications that this unilateral action to combate climate change will have on American competitiveness and American workers. We can’t just hope that other countries will follow suit and choose to act concurrently. Additionally, from my perspective this legislation assumes no growth in American industry, including steel.

“I see the need for climate change legislation, but we still have more work to do before this package is ready. The nature of the problem demands a balanced approach that ensures competitiveness and protects American jobs.”