HR5248-119

Reported

PROFIT Act of 2026

119th Congress Introduced Sep 10, 2025

Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.

Summary

What This Bill Does

The bill creates a new Under Secretary for Economic Affairs position in the State Department responsible for economic growth, commercial expansion, energy, technology policy, scientific research, commercial space affairs, amends the CHIPS Act of 2022 to require the International Technology Security and Innovation Fund to be administered through the Under Secretary of State for Economic Affairs, and authorizes appropriations for the Under Secretary for Economic Affairs to direct and oversee the International Technology Security and Innovation Fund for fiscal years 2026 and 2027. It relies on definition changes and appropriations. The main policy areas are Foreign Affairs, Energy, Foreign Policy, and Finance.

Who Benefits and How

US energy exporters could gain revenue opportunities, State Department Under Secretary for Economic Affairs could gain revenue opportunities, and Office of the Chief Economist could gain revenue opportunities.

Who Bears the Burden and How

Federal budget could face higher costs, Foreign governments and entities subject to US sanctions could face higher costs, and Human rights violators abroad could face higher barriers.

Key Provisions

  • Creates a new Under Secretary for Economic Affairs position in the State Department responsible for economic growth, commercial expansion, energy, technology policy, scientific research, commercial space affairs...
  • Amends the CHIPS Act of 2022 to require the International Technology Security and Innovation Fund to be administered through the Under Secretary of State for Economic Affairs.
  • Authorizes appropriations for the Under Secretary for Economic Affairs to direct and oversee the International Technology Security and Innovation Fund for fiscal years 2026 and 2027.
  • Creates a Chief Economist position in the State Department responsible for analyzing economic trends impacting diplomatic functions and national security, providing research on supply chain resilience, critical minerals...
  • Establishes an Office of the Chief Economist in the State Department to provide expert economic advice and analysis under the Under Secretary for Economic Affairs.

Evidence Chain:

This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.

At a Glance

What This Bill Does

The bill creates a new Under Secretary for Economic Affairs position in the State Department responsible for economic growth, commercial expansion, energy, technology policy, scientific research, commercial space affairs, amends the CHIPS Act of 2022 to require the International Technology Security and Innovation Fund to be administered through the Under Secretary of State for Economic Affairs, and authorizes appropriations for the Under Secretary for Economic Affairs to direct and oversee the International Technology Security and Innovation Fund for fiscal years 2026 and 2027.

Key Policy Areas

Foreign Affairs, Energy, Foreign Policy, Finance

Primary Purpose

The bill creates a new Under Secretary for Economic Affairs position in the State Department responsible for economic growth, commercial expansion, energy, technology policy, scientific research, commercial space affairs, amends the CHIPS Act of 2022 to require the International Technology Security and Innovation Fund to be administered through the Under Secretary of State for Economic Affairs, and authorizes appropriations for the Under Secretary for Economic Affairs to direct and oversee the International Technology Security and Innovation Fund for fiscal years 2026 and 2027.

Policy Domains

Foreign Affairs Energy Foreign Policy Finance

Whole bill

Identified Gains
  • US energy exporters
  • State Department Under Secretary for Economic Affairs
  • Office of the Chief Economist
  • Bureau of Water, Environment, and Space Affairs
  • Bureau of Sanctions Policy
Model: codex-gpt-5:bulk-repair | Version: bill_summary_v2 | Source: ih
US energy exporters: ,
Bureau of Sanctions Policy:
Office of the Chief Economist:
Bureau of Water, Environment, and Space Affairs:
State Department Under Secretary for Economic Affairs:
Identified Costs
  • Federal budget
  • Foreign governments and entities subject to US sanctions
  • Human rights violators abroad
  • Foreign governments conducting malign influence operations
  • Wildlife traffickers
Model: codex-gpt-5:bulk-repair | Version: bill_summary_v2 | Source: ih
Federal budget: , , , , ,
Wildlife traffickers:
Human rights violators abroad:
Foreign governments and entities subject to US sanctions:
Foreign governments conducting malign influence operations:

Legislative Progress

Reported
Introduced Committee Passed
Jun 9, 2026

Received in the Senate and Read twice and referred to …

Jun 9, 2026

Received; read twice and referred to the Committee on Foreign …

Jun 8, 2026

Motion to reconsider laid on the table Agreed to without …

Jun 8, 2026

Passed/agreed to in House: On motion to suspend the rules …

Jun 8, 2026

DEBATE - The House proceeded with forty minutes of debate …

Jun 8, 2026

Considered under suspension of the rules. (consideration: CR H3970-3974)

Jun 8, 2026

Mr. Mast moved to suspend the rules and pass the …

Jun 8, 2026

Motion to reconsider laid on the table Agreed to without …

Sep 18, 2025

Ordered to be Reported (Amended) by the Yeas and Nays: …

Sep 18, 2025

Committee Consideration and Mark-up Session Held

Stakeholder Effects

cui bono?

How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.

Government
21 mentions across 15 clauses
+7 positive -6 negative ?8 uncertain

Bureau of Commercial Diplomacy, Bureau of Energy Security and Diplomacy, Bureau of Sanctions Policy

Positive-direction: Bureau of Commercial Diplomacy, Bureau of Energy Security and Diplomacy, Bureau of Sanctions Policy, Bureau of Water, Environment, and Space Affairs, Office of the Chief Economist, State Department Under Secretary for Economic Affairs, State Department policy leadership

Negative-direction: Federal budget

Oil & Gas
7 mentions across 4 clauses
+7 positive

Critical minerals companies, Critical minerals mining companies, Critical minerals supply chain companies

Business
5 mentions across 5 clauses
+5 positive

US businesses affected by sanctions regimes, US businesses engaged in international trade, US businesses facing economic coercion abroad

Foreign Entities
4 mentions across 3 clauses
+1 positive -3 negative

Foreign entities subject to US sanctions, Foreign governments and entities subject to US sanctions, Foreign governments conducting malign influence operations

Positive-direction: US allies and partners

Negative-direction: Foreign entities subject to US sanctions, Foreign governments and entities subject to US sanctions, Foreign governments conducting malign influence operations

Financial Services
3 mentions across 2 clauses
+3 positive

Development finance institutions, Foreign investors in the US, Foreign investors targeting US localities

Manufacturing
1 mention across 1 clause
?1 uncertain

Semiconductor and technology companies

Trade
1 mention across 1 clause
+1 positive

US exporters

State & Local Government
1 mention across 1 clause
+1 positive

State and local governments

20/21
sections analyzed
Full impact breakdown

Bill Structure & Actor Mappings

Who is "The Secretary" in each section?

Domains
Foreign Affairs Energy Foreign Policy Finance

We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.

Learn more about our methodology