Washington, DC – Senator Mike Johanns today issued the following statement on cap-and-trade legislation, expected to be voted on Friday in the House of Representatives:

"This legislation contains fatal flaws, plain and simple. It's bad for farmers and ranchers, bad for Nebraska's economy, and bad for America's competitiveness. All that, while producing little benefit. This bill punishes the U.S. economy, while giving even larger emitters a free pass in the form of a huge competitive advantage.

"If there is any positive aspect to this, it would be that it rectifies the EPA's ill-advised indirect land use rule that would undermine our Renewable Fuels Standard. Additionally, it puts carbon sequestration programs where they belong, with the experts at USDA, not with bureaucrats at the EPA who have little knowledge of farmers' environmental stewardship.

"However, on the whole, this legislation is bad for our nation's agriculture and stifling to businesses. The House bill has sold them out to their overseas competitors, who will face no carbon cap at all.

"For farmers, fertilizer prices will go up, natural gas used to dry their grain will sky-rocket in price, fuel prices for tractors and irrigation equipment will shoot through the roof, and don't even ask about your electricity bill.

"But political expediency has won the moment over sound policy. Hopefully, it will not win the day. Some in Congress are trying to convince farmers to buy this old jalopy, claiming it's really a Lamborghini. Some might believe farmers can be duped, but I know better. Farmers and ranchers will not be fooled.

"This flawed policy is a gift to China and India that would tilt our trade imbalance at a dizzying pace. No smoke and mirrors can hide this truth. This legislation, in my judgment, is dead on arrival."