PROFIT Act of 2026

This bill would restructure the Department of State’s Office of the Under Secretary for Economic Affairs by establishing four specialized bureaus and two offices to manage international economic and security interests. These new entities would oversee a wide range of policy areas, including commercial diplomacy, energy security, sanctions strategy, environmental and space affairs, and subnational diplomacy with state and local governments. Additionally, the Office of the Under Secretary would be responsible for administering the International Technology Security and Innovation Fund to support semiconductor supply chains and technology security.

The bill primarily affects the Department of State, specifically the Office of the Under Secretary for Economic Affairs, which would be restructured into four new bureaus and two offices. State and local governments within the United States are also affected through the creation of the Office of Subnational Diplomacy, intended to assist them in attracting foreign investment and countering foreign influence. Additionally, the bill impacts entities involved in semiconductor supply chains and technology security through the administration of the International Technology Security and Innovation Fund.

• Restructuring of the Office of the Under Secretary for Economic Affairs. The bill reorganizes the office into four distinct bureaus and two specialized offices, defining specific functions and leadership responsibilities for each entity.
• Establishment of Four Specialized Bureaus. The reorganization creates the Bureau of Commercial Diplomacy, the Bureau of Water, Environment, and Space Affairs, the Bureau of Energy Security and Diplomacy, and the Bureau of Sanctions Policy. These bureaus will manage diverse portfolios ranging from trade and investment to critical mineral supply chains and international sanctions strategies.
• Creation of the Office of the Chief Economist and Office of Subnational Diplomacy. The Office of the Chief Economist will provide expert economic analysis, while the Office of Subnational Diplomacy will coordinate with state and local governments to attract foreign investment and counter foreign malign influence.
• Oversight of Technology Security and Semiconductor Funds. The Office of the Under Secretary for Economic Affairs is tasked with administering the International Technology Security and Innovation Fund, which supports semiconductor supply chain activities and technology security.

This bill restructures the Department of State's existing Office of the Under Secretary for Economic Affairs by reorganizing its functions into four distinct bureaus and two offices. It also designates the Under Secretary to oversee the existing International Technology Security and Innovation Fund.

The bill aims to align U.S. economic and foreign policy by restructuring the Department of State’s Office of the Under Secretary for Economic Affairs into specialized bureaus and offices. This reorganization is intended to treat economic security as a component of national security by formalizing departmental roles in areas such as energy security, sanctions policy, commercial diplomacy, and subnational engagement.