PALO ALTO, CA — The California Democratic Party today announced their endorsement of Proposition 14, officially joining the broad coalition of leading scientists, physicians, Nobel Prize winners and more than 70 patient advocate organizations in support of the measure. This November, voters will be asked to consider Proposition 14, where a “yes” vote will renew funding to develop treatments, advance clinical trials and achieve new medical breakthroughs for California’s patients living with chronic diseases and conditions, like cancer, Alzheimer’s, Diabetes, heart disease, Parkinson’s, stroke, infectious diseases like COVID-19, and many more. If passed, Proposition 14 would authorize $5.5 billion in state general obligation bonds to build on the successes of Proposition 71 and advance more medical discoveries into treatments and cures that could save or improve the lives of millions of Californians.
“We are honored to have the California Democratic Party join our broad coalition in support of this critical measure that will ensure the continuation of lifesaving stem cell research and treatment development in our state,“ said Bob Klein, Chairman of YES on 14: Californians for Stem Cell Research, Treatments and Cures. “Chronic disease impacts every single Californian, or their family and friends; and, it is vital in November that we continue to fund this therapy development pipeline that is providing hope to millions of families searching for treatments and cures. Proposition 14 has the potential to reduce human suffering and save millions of lives and tens of billions of dollars in health care costs, while helping to stimulate California’s economic and job recovery with no state payment on these bonds until 2026 – put simply, voters can’t afford not to vote yes on Proposition 14.”
Voting YES on Prop 14:
Continues and accelerates the development of new treatments and cures, building on the successes of California’s stem cell research and funding institute, the California Institute for Regenerative Medicine (CIRM), which was established when California voters overwhelmingly approved Proposition 71 in 2004. Past investments in CIRM have created:
90+ clinical trials
1,000+ medical projects at 70 institutions across California
2 FDA-approved cancer treatments for fatal blood cancers
$10.7 billion in increased state economic output
$640 million in new state revenue
55,000 jobs spanning every level – from construction and maintenance workers, to lab technicians, nurses and physicians
Could save millions of lives and tens of billions of dollars in health care costs. California is expected to spend $4.7 trillion on chronic diseases between 2015 and 2030 – a period of only 15 years. Reducing the cost of treating just 6 of 8 major chronic diseases or injuries by 1-2% would save billions of these treatment costs and pay for the measure twice over.
Provides a much-needed economic stimulus and jobs recovery for California. Given bond payments are delayed for the first 5 years and the projected increase in economic activity, jobs, and tax revenues, Proposition 14 is projected to provide more state revenue than the cost of the bond payments until the beginning of 2030.