If embroyic stem sell research was REALLY such an "amazing medical technique on the verge of a huge breakthrough for curing thousands of ailments such as Altztimer's, paralysis, etc.", you'd see private companies chomping at the bit to fund it so they'd be first in line to take credit for the eminent "cures". There are hundreds of companies with enough funds and clout to do so.
Private companies are "unwilling or unable to invest capital" in embroyic stem cell research because test results have shown very little potential and adult stem cell research is far more promising.
California just threw a couple billion into embroyic stem cell research a few monthes ago. Seen all them great medical cures popping up in California?
Throwing gobs of federal money at problems and hoping it makes them go away is a wasteful, reckless tax-and-spend policy that is not remotely "conservative".