以下文章来源于中国银河宏观 ，作者中国银河宏观 中国银河宏观 . 中国银河证券宏观经济研究 文/中国银河证券首席宏观分析师 张迪 、 中国银河证券宏观经济分析师 于金潼 、中国银河证券宏观经济分析师助理 铁伟奥 5月22日，美国众议院以215比2 1 4票的微弱优势通过2 0 2 5财年预算 协调法案"The One , Bi g, Be a utif ul Bill "（大美丽法案）。不同机 构估计，该法案将在未来1 0年内使净赤字增加至少3万亿美元。这个 法案究竟会带来什么影响？ 大美丽法案包括什么？ 5月22日，美国众议院以215比214票的微弱优势通过2025财年预算协调法案"The One, Big, Beautiful Bill"（大美丽法案）。不同机构估计，该法案将在未来 10 年内使净赤字增加至少3 万亿美元。主要内容包括延长并永久化2017年《减税和就业法案》的主要条款，并添加额外的税收减免 政策；虽然在农业、教育、能源等领域削减了支出，但在国防和边境安全上扩大了支出，叠加减税政 策，总体上法案让美国政府赤字进一步上行。 其中外国资产税引人注意，法案第899条规定对美国认为 存在税收政策"歧 ...

Core Viewpoint - The article discusses the controversy surrounding the "big and beautiful" budget bill, particularly a clause that prohibits states from regulating artificial intelligence (AI) for ten years, which has drawn criticism from Republican Congresswoman Marjorie Taylor Greene, who initially supported the bill but now opposes it due to concerns over state rights [2][3]. Group 1 - Marjorie Taylor Greene criticized the budget bill for including a clause that restricts states from creating laws to regulate AI, claiming it infringes on state rights [2]. - The bill mandates a ten-year pause on state-level regulations regarding AI models, systems, or automated decision-making systems, which supporters argue is necessary to prevent a confusing patchwork of state laws [2][3]. - Greene stated that she was unaware of the clause when she voted in favor of the bill and would not support it in its final review unless the clause is removed [3]. Group 2 - The situation complicates matters for House Republican leaders, as the party holds a slim majority and can only afford to lose three votes, with two Republicans already opposing the bill [3]. - Concerns have been raised by 260 state legislators who warned that the AI regulation clause could undermine ongoing state efforts to address the impacts of emerging technologies [3]. - Some senators have expressed doubts about the clause's compliance with the Byrd Rule, which prohibits unrelated provisions in budget reconciliation bills [3].