What does Preamble of PROFIT Act of 2026 do?

This bill aims to align economic and foreign policies. The bill intends to position the Department of State to recognize economic security as a component of national security. The bill includes provisions for other purposes, though these are not specified in this section.

What does DEFINITIONS. of PROFIT Act of 2026 do?

This section defines terms used within the Act. “Appropriate congressional committees” are defined as the House Committee on Foreign Affairs and Appropriations, and the Senate Committee on Foreign Relations and Appropriations. The terms “Department” and “Secretary” refer to the Department of State and the Secretary of State, respectively.

What does UNDER SECRETARY OF STATE FOR ECONOMIC GROWTH, ENERGY, AND THE of PROFIT Act of 2026 do?

This section amends the State Department Basic Authorities Act of 1956. It establishes an Under Secretary of State for Economic Growth, Energy, and the Environment within the Department. The Under Secretary is responsible to the Secretary of State. The Under Secretary's responsibilities include maintaining observation and coordination of economic and business affairs in foreign policy. Key duties involve preparing a strategic plan for U.S. private sector companies, coordinating sanctions, promoting trade and investment, and developing policies related to emerging technologies. The Under Secretary is tasked with promoting U.S. international economic interests in the National Economic Security Strategy Report. They will attend meetings of the National Security Council and National Space Council when directed by the Secretary. The Under Secretary will provide guidance to Department personnel and coordinate activities related to economic growth, energy, and other specified areas. The Under Secretary will represent the Department at interdepartmental meetings, including the National Economic Council.

What does ADMINISTRATION OF THE INTERNATIONAL TECHNOLOGY SECURITY AND of PROFIT Act of 2026 do?

This section amends Section 102(c) of the CHIPS Act of 2022. The Secretary of State's authority regarding the International Technology Security and Innovation Fund is clarified to be exercised through the Under Secretary of State for Economic Growth, Energy, and the Environment. The Fund will be overseen and administered by the Under Secretary of State for Economic Growth, Energy, and the Environment within the Department of State. Amendments are made to paragraph (1) and paragraph (2)(B) of Section 102(c) of the CHIPS Act of 2022.

What does ASSISTANT SECRETARY FOR SANCTIONS POLICY. of PROFIT Act of 2026 do?

This section amends the State Department Basic Authorities Act of 1956 to establish an Assistant Secretary for Sanctions Policy within the Department. The Assistant Secretary will be responsible for developing policies governing the imposition of sanctions and coordinating their implementation. Responsibilities include developing foreign policy strategy for sanctions, coordinating with foreign partners, consulting with stakeholders, and contributing to reports to Congress. The Assistant Secretary will also lead efforts to identify individuals for visa sanctions related to human rights violations and combat illicit financial activities. The Secretary may delegate authority to the Assistant Secretary for Sanctions Policy. On enactment, the Coordinator for Sanctions will become the Assistant Secretary, with subsequent appointments requiring Senate advice and consent. A Bureau of Sanctions Policy will be established to perform functions related to sanctions policy development.

What does CHIEF ECONOMIST. of PROFIT Act of 2026 do?

This section amends the State Department Basic Authorities Act of 1956 to establish an Office of the Chief Economist within the Department of State. The Chief Economist will be responsible for analyzing and forecasting the impact of economic trends on diplomatic functions and national security priorities. The Chief Economist's responsibilities include providing research and analysis to inform the Department's strategy for deploying international economic policy and ensuring supply chain resilience. The Chief Economist is required to submit a report to Congress every two years on the international economic strategy of the United States. The Office of the Chief Economist will include the Chief Economist, civil service officers, a Foreign Service Officer, and time-limited detailees. The Chief Economist must have a doctorate in Economics and at least five years of experience working at the intersection of policy and international economics.

What does ASSISTANT SECRETARY FOR ECONOMIC AND BUSINESS AFFAIRS. of PROFIT Act of 2026 do?

This section amends the State Department Basic Authorities Act of 1956 to establish an Assistant Secretary for Economic and Business Affairs within the Department. The Assistant Secretary will report to the Under Secretary of State for Economic Growth, Energy, and the Environment. The Assistant Secretary is responsible for trade and investment promotion and policy, international finance and development, transportation affairs, and other related duties. Key responsibilities include assisting U.S. businesses overseas, identifying foreign market opportunities, and attracting foreign investment into the United States. The Assistant Secretary will also lead policies related to international trade, investment, development finance, debt relief, and promoting sound economic policies. The Assistant Secretary is tasked with coordinating with other United States agencies as appropriate.

What does ENHANCING SUBNATIONAL DIPLOMACY. of PROFIT Act of 2026 do?

This section amends the State Department Basic Authorities Act of 1956 to establish an Office of Subnational Diplomacy within the Department of State. The Office is intended to improve the ability of subnational governments (state, county, city, and municipal) to attract foreign investment, counter foreign malign influence, and contribute to U.S. foreign policy priorities. A Coordinator for Subnational Diplomacy will head the Office and report to the Assistant Secretary for Economic and Business Affairs. The Coordinator's responsibilities include advising the Under Secretary on subnational engagements, coordinating Department support for local governments' engagements with foreign governments, and advising subnational officials on risks related to foreign engagements. The Office will assist subnational governments in areas such as attracting international events, tracking foreign direct investment, and building capacity for engaging with foreign countries. The Office will support the economic interests of the United States through subnational engagements and coordinate with relevant agencies. The Office of Subnational Diplomacy will be co-located with the Office of Foreign Missions--Los Angeles.

What does ENERGY SECURITY AND DIPLOMACY. of PROFIT Act of 2026 do?

This section amends Section 1(c) of the State Department Basic Authorities Act of 1956. It establishes an Assistant Secretary for Energy Security and Diplomacy within the Department of State. This Assistant Secretary is responsible for international energy, energy technology, critical minerals, and supply chain policies. The Assistant Secretary's responsibilities include representing the Secretary in interagency efforts, leading policy formulation, and managing bilateral and multilateral relations. The Assistant Secretary must coordinate with various federal departments and agencies, including the Departments of Energy, Commerce, Defense, and Interior. The bill requires the Assistant Secretary to submit an annual report to Congress on the United States international energy strategy for three years. A Bureau of Energy Security and Diplomacy is established to support the Assistant Secretary's functions.

What does ASSISTANT SECRETARY FOR WATER, ENVIRONMENT, AND SPACE AFFAIRS. of PROFIT Act of 2026 do?

This section amends the State Department Basic Authorities Act of 1956 to establish an Assistant Secretary for Water, Environment, and Space Affairs within the Department of State. The Assistant Secretary will be responsible to the Under Secretary of State for Economic Growth, Energy, and the Environment and will oversee matters related to space, oceans, environmental quality, freshwater, fisheries, wildlife, and conservation. The Assistant Secretary's responsibilities include developing United States policy on global environmental security issues, representing the Department in negotiations related to the law of the sea, and leading engagement on Antarctica and international oceans agreements. The section outlines specific duties related to natural resource conservation, addressing international threats to natural resources, and promoting environmental security with trade partners. It also directs coordination with agencies like NASA and the Department of Commerce to support partnerships in outer space economic growth and to counter threats to U.S. interests in space. A Bureau of Water, Environment, and Space Affairs is established to perform functions prescribed by the Under Secretary. The individual serving as the Assistant Secretary for Oceans and International Environmental and Scientific Affairs on the date of enactment will initially fill the new position, with subsequent appointments requiring Senate advice and consent.

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PROFIT Act of 2026

Last updated: 6/9/2026 · Introduced: 9/10/2025

Author: Young Kim (R-CA)

TL;DR (AI)

This bill establishes a new Under Secretary for Economic Affairs within the Department of State to align economic and foreign policy and oversee economic security matters.
It clarifies that the Secretary of State's authority over the International Technology Security and Innovation Fund will be exercised through the Under Secretary for Economic Affairs.
The bill creates a Chief Economist within the Department to analyze economic trends and inform international economic policy, reporting to the Under Secretary.
It establishes a Bureau of Commercial Diplomacy and an Assistant Secretary for Commercial Diplomacy to promote trade, investment, and assist U.S. businesses overseas.
The legislation establishes new Assistant Secretaries and Bureaus focused on energy security, water, environment, space, and sanctions policy, all reporting to the Under Secretary for Economic Affairs.

119th Congresspassed houseOfficial page

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Other Sections

Includes provisions on preamble, definitions., and 11 more.

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