Important note: Information in this article was accurate in 2004. The state of the art may have changed since the publication date.
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San Francisco Examiner - September 17, 2004
Proposition 71 would have the state borrow $3 billion to fund stem cell research over 10 years. The bond measure would create a new California Institute for Regenerative Medicine, as well as a citizen oversight committee, to promote the new scientific field. Over 30 years, it would cost the state roughly $6 billion altogether, while funding research and potentially generating many patents and spinoff businesses that could boost the state's economy.
That contribution dwarfs all other support combined, including the $25 million provided by the federal government last year. Never before has a state attempted such a massive medical research effort on its own. Such expensive scientific undertakings are usually left to the National Institutes of Health, which has an annual budget exceeding $30 billion.
Proponents say the results might benefit as many as 128 million Americans affected by cancer, heart disease, diabetes, Alzheimer's, Parkinson's, HIV/AIDS, multiple sclerosis, lung disease and spinal injuries. Since federal dollars are now limited to research involving existing stem cell lines, this measure would be enacted to fill the gaps in existing funding. Proponents also claim the Bush administration is hindering advances in the field by restricting federal funding.
Opponents, such as state Sen. Tom McClintock, R-Thousand Oaks, charge that the measure is too costly, will lead to state indebtedness over time, and amounts to "corporate welfare."
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