What is it?
Prop 38 would allow California to borrow $8.4 billion to fund research into diseases and treatments involving the immune system. The state would repay the money over about 20 years, costing around $500–$600 million a year.
Argument For
More funding could help scientists research diseases and develop new ways to treat them.
If the research leads to successful discoveries that generate revenue, some of that money could help offset the state's costs.
Treatments developed using the funding would have to be sold in California at least 20% below the national average price.
Argument Against
California would have to pay about $500–$600 million per year for around 20 years to repay the bonds, plus the associated borrowing costs.
There is no guarantee the research will lead to cures, successful treatments, or discoveries that generate enough money to repay the state's costs.
California should prioritize other needs, such as education, housing, or healthcare services.
Half of the funding would go to a single nonprofit medical research institute affiliated with the University of California, raising questions about whether the money should be distributed more widely.
Supporters
California Human Development
California Environmental Justice Alliance
ALS Association
California Black Health Network
FORCE: Facing Our Risk of Cancer Empowered
Latino Diabetes Association
Opposers
None recorded