Proposition 14 authorizes bonds continuing stem cell and other medical research. If passed, the California Institute of Regenerative Medicine will issue $5.5 billion in state bond to fund stem cell and other medical research, with $1.5 billion going to research and therapy for Alzheimer’s, Parkinson’s, stroke, epilepsy and other brain and central nervous system diseases. Money would come from the state General Fund.
Proponents of Prop 14 include Dr. Antoni Ribas, president of the American Association for Cancer Research; Dr. Cythia E. Munoz, president of the American Diabetes Association-Los Angeles; and Dr. Robert A Harrington, Chairman for the department of medicine at Stanford University. They argue that the funding will help accelerate development of treatment and cures for many diseases, including cancer and infectious diseases like COVID-19.
“Nearly half of all California families include a child or adult with medical conditions who could benefit from stem cell research, treatments and cures,” they write in the voter information guide.
Opponents of the measure, including Dr. Vincent Fortanasce and Dr. Patrick James Baggot, say that the state can’t afford the debt from borrowing the $5.5 billion which would reach $8 billion with interest added. They also point out that the majority of the money from the first stem cell research measure, proposition 71 from 2004, went to infrastructure, education and training, producing few medical breakthroughs.
