10 year Moratorium on State Regulation of Artificial Intelligence. Talking with Justin Hendrix.

Will over regulation of AI by the states hamstring development and hand a first place win in the AI stakes to China ?
The Big Beautiful Bill contains AI legislation that would preclude all states from regulating AI for 10 years. Any existing laws would be paused for 10 years. Such action could decimate consumer protections. But AI fans argue that having 50 states each legislating their own rules would hamstring AI development putting the US at a competitive disadvantage to China.