Key committees in the Senate and House held hearings today on the issue of funding for stem cell research. For more on the hearings, read this story from the Baltimore Sun

Chamber’s Position
The Maryland Chamber of Commerce submitted testimony in support of legislation establishing the Maryland Stem Cell Research Fund (SB 144/HB 1, the Maryland Stem Cell Research Act of 2006), if amended to fund the initiative in a more fiscally responsible manner.

This legislation would require the Governor to annually include in the state budget, beginning in fiscal year 2008, $25 million for stem cell research. However, the bill identifies no funding source. In light of the ongoing, unresolved structural deficit, the Maryland Chamber believes it is inappropriate to mandate additional spending of this magnitude, even for so worthy a cause. The Chamber requested that the bill be amended to allow the Governor discretion regarding the amount to be annually included in the state budget.

“Recognizing the importance of biotechnology research to Maryland’s economy, the Maryland Chamber supports efforts to expand our national prominence in this field,” said Ronald Wineholt, the Chamber’s Vice President of Government Affairs. “While we support the establishment of the Stem Cell Research Fund, we are concerned regarding the unfunded mandate of requiring the Governor to include $25 million in the state budget annually for this purpose.”