$3-Billion Bond to Fund Stem Cell Research
Summary: The measure would provide for the sale of $3 billion in bonds to pay for embryonic stem cell research in California. It would allow about $300 million in grants in each of the next 10 years. With interest payments, the bonds would cost about $6 billion over 30 years.
Many scientists believe that embryonic stem cells have great potential for the study and treatment of conditions such as juvenile diabetes, Parkinson’s, Alzheimer’s and spinal cord injuries. The research may also allow scientists to study why certain cells in the body fail in individuals with genetic diseases. The proposition bans cloning for reproductive purposes.
Supporters: The architect of the proposition is Robert Klein II, a wealthy financier with a background in using public corporations to develop affordable housing. Klein, who has donated more than $1.6 million to the campaign, has a 14-year-old son with insulin-dependent diabetes and an 84-year-old mother with Alzheimer’s.
Overall, supporters have raised more than $14.5 million from a wide range of prominent donors including Microsoft Chairman Bill Gates and EBay founder Pierre Omidyar. It is backed by many advocacy groups for people with particular diseases as well as research scientists and a large number of elected officials, including state Treasurer Phil Angelides and state Controller Steve Westly. Supporters also include more than 20 Nobel laureates and George Shultz, who served in the Cabinets of three Republican presidents.
Opponents: The U.S. Conference of Catholic Bishops has given $50,000 to oppose the initiative, as hasHoward Ahmanson, a billionaire philanthropist and conservative Christian. Opponents have raised $125,000 so far. Other opponents include state Sen. Tom McClintock (R-Thousand Oaks) and Orange County Treasurer-Tax Collector John M.W. Moorlach, as well as some anti-tax groups.
Impact: Under a policy ordered by President Bush, the federal government sharply limits funding for research using embryonic stem cells. The measure would allow California to step into the traditionally federal role as the primary source of research money.
Supporters argue that the research could lead to treatment or cures for more than 70 conditions, in effect helping nearly every family in California. Researchers caution, however, that their work is still preliminary and cures are not guaranteed.
Because the money would have to be spent in the state, the funds would probably attract top researchers to California and would create new jobs, expanding on California’s growing biotech industry. In the longer run, supporters say the measure would pay for itself in healthcare savings if even modest gains were made on a handful of diseases.
Many opponents believe the use of human embryos crosses an ethical line, but the debate on the measure has focused more on cost. Opponents say a state deeply in debt should not be floating bonds to finance research that may never live up to its promise. They also argue that therapeutic cloning could perfect techniques that could be used to clone humans.
Websites: Californians for Stem Cell Research and Cures: www.curesforcalifornia.com.
Doctors, Patients and Taxpayers for Fiscal Responsibility: www.noonprop71.org.
