Vote NO on Prop 38
Immunology and Immunotherapy Research Bonds
Authorizes $8.4 billion in state bonds to fund immunology and immunotherapy research - leaving California taxpayers with roughly $15 billion in long-term debt for decades.
While sold as advancing medical research, there is no guarantee the state will receive any financial return nor any guarantee of discoveries. Any potential revenue would be uncertain and would mostly benefit UCLA and private partners rather than taxpayers.
The measure is backed by wealthy medical investor Gary K. Michelson, who pledged $120 million to UCLA’s California Institute for Immunology and Immunotherapy - the same institution positioned to receive $4.2 billion under this proposal.
Vote NO on forcing taxpayers to fund elite-directed research with no guaranteed return.
Secretary of State Link to Official Source Documents for all Propositions
