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Never thought I'd see the day when an action hero has more sense than our President.
Bravo Schwarzenegger!
Mark
-------Original Message-------
Date: 07/22/06 16:52:14
Subject: Re: [QUAD-L] Despite Bush Veto, Stem Cell Research Abounds
Yesterday I was invited to a small press conference to hear Gov. Schwarzenegger announce a loan of $150 million to embryonic stem cell research in California. The following is a letter from Gov. Schwarzenegger to the California Director of Finance.
Brien
Dear Mike:
In light of recent developments, I direct you to utilize your authority under Proposition 71, Section 125291.60 of the California Stem Cell Research and Cures Act to issue a General Fund loan to CIRM in an amount not to exceed $150 million. We can no longer afford to wait to fund this important research. With the recent trial court action, I am confident that the state and the people of California will prevail in this litigation. But we can no longer delay this critical scientific work. I am directing you to take all actions necessary to make this funding available to CIRM.
As you know, the President yesterday vetoed legislation that would have expanded critical federal funding for certain embryonic stem cell research. I remain committed to advancing stem cell research in California, in the promise it holds for millions of our citizens who suffer from chronic diseases and injuries that could be helped as a result of stem cell research.
In November of 2004, more than 59 % of the voting public in California approved Proposition 71, the California Stem Cell Research and Cures Act, which authorizes and funds stem cell research in California through the issuance of $3 billion in General Obligation bonds. Despite this overwhelming support from our citizens for the funding of stem cell research, opponents brought suit against this initiative claiming it was unconstitutional. In May, the state's trial court ruled that Proposition 71 is constitutional, and that the California Institute for Regenerative Medicine (CIRM) functions like other state agencies. The plaintiffs have appealed this decision.
Notwithstanding this litigation, the CIRM and other state agencies have taken the steps necessary to implement the will of the people in funding this important stem cell research. The California Stem Cell Research and Cures Finance Committee held two public meetings and approved the issuance of $3 billion in General Obligation bonds. In addition, the Committee authorized Treasurer Angelides to issue $200 million of these bonds without additional action by the Committee, and further authorized the issuance of up to $200 million in Bond Anticipation Notes. Of this amount, $14 million of these Notes have been purchased by private philanthropic individuals and organizations, and an additional $30 to 36 million of these Notes are expected to be sold in the near future, leaving $150 million authorized but not issued.
California is poised to lead not only this country, but all countries, on stem cell research. We cannot fall behind the nations who are making this life-saving science a priority. I believe it is critical we take action to ensure continued progress of this revolutionary science. This is another opportunity for the people of California to lead the way.
Sincerely,
Arnold Schwarzenegger
Governor
"Keirstead is working with human embryonic stem cells to treat spinal cord injury. He has received funding for his lab from Geron, which has an exclusive license of Keirstead's patents and aims to start human trials on spinal cord injury as soon as next year."
Excellent!
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