PROFIT Act of 2026
- Bill Number
- H.R. 5248
- Origin Chamber
- House
- Congress
- 119th Congress, Session 2
- Policy Area
- International Affairs
- Status
- Passed House
- Latest Action
- 2026-06-09: Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
- Last Updated
- 2026-06-13T05:53:28Z
AI-Generated Summary
Purpose This legislation, titled the "Producing Returns and Opportunity for Investment and Trade Act of 2026" or "PROFIT Act of 2026," aims to align U.S. economic and foreign policies. It restructures the Department of State to emphasize that economic security is national security, with a focus on trade, investment, energy, sanctions, and emerging technologies.
Key Provisions
- Establishes an Under Secretary of State for Economic Growth, Energy, and the Environment responsible for coordinating economic policy, sanctions, trade promotion, energy security, critical minerals, space affairs, and related international strategies.
- Creates or redesignates several positions and offices, including:
- Assistant Secretary for Sanctions Policy and a Bureau of Sanctions Policy to develop and coordinate sanctions strategies.
- Chief Economist and Office of the Chief Economist to provide economic analysis, forecasting, and reports on international economic strategy.
- Assistant Secretary for Economic and Business Affairs with expanded duties in trade, investment, and development finance.
- Office of Subnational Diplomacy to support state, local, and municipal governments in attracting investment and countering foreign influence.
- Assistant Secretary for Energy Security and Diplomacy and a Bureau of Energy Security and Diplomacy to handle energy markets, critical minerals, and supply chains.
- Assistant Secretary for Water, Environment, and Space Affairs (renaming and expanding the prior role) to address oceans, conservation, pollution, and civil/commercial space issues.
- Directs administration of the International Technology Security and Innovation Fund through the new Under Secretary.
- Requires civil service staffing for certain economic office director positions, with direct hire authority for up to four years.
- Updates references in law and amends energy diplomacy provisions to allow Department of Energy personnel assignments to U.S. embassies.
Significant Changes to Existing Law The bill amends the State Department Basic Authorities Act of 1956 to create the new Under Secretary position and multiple bureaus, shifting responsibilities from existing offices (such as Economic and Business Affairs and Oceans and International Environmental and Scientific Affairs). It modifies the CHIPS Act of 2022 for fund oversight and updates the Energy Independence and Security Act of 2007 for energy advisor placements. These changes consolidate economic, sanctions, and environmental functions under one Under Secretary.
Potential Impacts
- Government agencies: Reorganizes the Department of State with new bureaus and reporting lines; increases coordination with Treasury, Commerce, Energy, and other agencies on sanctions, trade, and energy.
- Citizens and businesses: Enhances U.S. government support for private sector trade, investment, and market access abroad, plus subnational efforts to attract foreign direct investment.
- International relations: Strengthens U.S. engagement on economic diplomacy, sanctions coordination with allies, energy security, and space governance, potentially affecting relations with trading partners and countries of concern.
Main Stakeholders Affected
- Department of State leadership and personnel (new roles, staffing changes).
- U.S. businesses and commercial interests seeking overseas opportunities.
- Subnational governments (states, cities, municipalities).
- Congress (oversight by Foreign Affairs/Relations and Appropriations Committees).
- Other federal agencies involved in economic and foreign policy coordination.
Notable Legal, Constitutional, or Political Implications The bill involves executive branch reorganization through new Senate-confirmed positions and bureaus, with phased implementation over five years and reporting requirements to Congress. It emphasizes civil service expertise in economic roles while maintaining Foreign Service involvement, and includes authority for non-reimbursable detailees and contractors. No direct constitutional conflicts are specified in the text.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Cosponsors (2)
Rep. McCaul, Michael T. [R-TX-10], Del. Moylan, James C. [R-GU-At Large]
Recent Actions
- 2026-06-09: Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
- 2026-06-08: Motion to reconsider laid on the table Agreed to without objection.
- 2026-06-08: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3970-3974)
- 2026-06-08: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3970-3974)
- 2026-06-08: DEBATE - The House proceeded with forty minutes of debate on H.R. 5248.
- 2026-06-08: Considered under suspension of the rules. (consideration: CR H3970-3974)
- 2026-06-08: Mr. Mast moved to suspend the rules and pass the bill, as amended.
- 2025-09-18: Ordered to be Reported (Amended) by the Yeas and Nays: 28 - 22.
- 2025-09-18: Committee Consideration and Mark-up Session Held
- 2025-09-17: Committee Consideration and Mark-up Session Held
- 2025-09-10: Referred to the House Committee on Foreign Affairs.
- 2025-09-10: Introduced in House
- 2025-09-10: Introduced in House
Bill Versions
- Producing Returns and Opportunity for Investment and Trade Act of 2026 — issued 2026-06-08 — PDF (40 pages)
- To ensure the alignment of economic and foreign policies, to position the Department of State to reflect that economic security is national security, and for other purposes. — issued 2025-09-10 — PDF (31 pages)
- Producing Returns and Opportunity for Investment and Trade Act of 2026 — issued 2026-06-09 — PDF (39 pages)