adminAuthorizes Bonds to Continue Funding Stem Cell and Other Medical Research. Initiative Statute
This is a $5.5 billion bond that will cost approximately $7.8 billion when repaid over 25 years. The bonds will continue funding the California Institute for Regenerative Medicine, which in turn funds research and development of stem cell medicine. CIRM began with Proposition 71 in 2004 and has ramped up both basic stem cell research and has produced 64 clinical trials covering 11 different medical specialties from cancer to macular degeneration. CIRM operating costs are confined to 7.5% of the funding with the rest to research. Work is overseen by a 35-person board.
Where are recommendations (or not) re: Props 24 & 25?
Initiative bonds are poster kids for bad governance. This wildly inappropriately makes a budget priority for one kind of research — versus what? Versus other research; versus global warming prevention; versus helping homeless; versus K-12 schools …. The list goes on. Don’t be stupid. Vote no 99.9% of the time on initiative bonds.
In 2004, Californians voted by a large margin to advance regenerative medicine, funding a bond initiative that created the California Institute of Regenerative Medicine (CIRM) and drove the new technology of stem cell research forward. Today, more than 90 clinical trials using stem cell technology have been launched through CIRM funding or using CIRM funded discoveries. A USC study of the economic impact of CIRM reported that the initial $3 billion investment generated $10.7 billion in increased economic activity for California between 2004 and 2018. This includes creation of over 55,000 jobs, making California an unquestioned leader in regenerative medicine technology – an economic stimulus that is a win-win. That is why not only 88 patient advocacy organizations, but also the University of California Regents and Governor Newsom have endorsed Prop 14. Beyond the benefits of stimulating and growing the tech economy in California, Californians face almost the same dilemma we did in 2004, whether or not to embrace the role of a leader in science and science policy. The Trump administration has consistently put politics ahead of science. Over the last year, these efforts have accelerated when it comes to stem cell research, and spread to include direct anti-stem cell research efforts by congress. Most recently, 94 GOP members of congress submitted a letter to President Trump on September 4th 2020 calling for an executive order to ban federal funding of embryonic stem cell research. California should continue to lead the way in developing and using new technologies, and in using science, not politics, for decisions that affect our future and drive economic stability and growth. Keep California smart – support proposition 14 and science that is independent of politics.