Bill > HR5248

This bill, the Producing Returns and Opportunity for Investment and Trade Act of 2026 (PROFIT Act of 2026), aims to strengthen the Department of State's focus on economic and national security by creating new leadership positions and expanding existing ones to better integrate economic considerations into foreign policy. Key provisions include establishing an Under Secretary of State for Economic Growth, Energy, and the Environment to oversee matters related to international markets, sanctions, trade, investment, emerging technologies, and natural resources, and an Assistant Secretary for Sanctions Policy to develop and implement sanctions strategies. The bill also formalizes the role of a Chief Economist to analyze economic trends and advise on foreign policy, creates an Assistant Secretary for Economic and Business Affairs to promote trade and investment, and establishes an Office of Subnational Diplomacy to engage with local governments on foreign investment and counter foreign influence. Furthermore, it creates an Assistant Secretary for Energy Security and Diplomacy to address international energy and critical mineral supply chain policies, and an Assistant Secretary for Water, Environment, and Space Affairs to handle global environmental, space, and resource management issues. The bill also includes provisions to enhance economic expertise within the Department of State by prioritizing civil service officers for certain leadership roles and allows for the assignment of Department of Energy personnel to diplomatic missions to advise on energy matters.