PROFIT Act of 2026
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
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
Identified Costs
- Federal budget
- Foreign governments and entities subject to US sanctions
- Human rights violators abroad
- Foreign governments conducting malign influence operations
- Wildlife traffickers
Sponsors
Legislative Progress
ReportedReceived in the Senate and Read twice and referred to …
Received; read twice and referred to the Committee on Foreign …
Motion to reconsider laid on the table Agreed to without …
Passed/agreed to in House: On motion to suspend the rules …
DEBATE - The House proceeded with forty minutes of debate …
Considered under suspension of the rules. (consideration: CR H3970-3974)
Mr. Mast moved to suspend the rules and pass the …
Motion to reconsider laid on the table Agreed to without …
Ordered to be Reported (Amended) by the Yeas and Nays: …
Committee Consideration and Mark-up Session Held
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
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
Critical minerals companies, Critical minerals mining companies, Critical minerals supply chain companies
US businesses affected by sanctions regimes, US businesses engaged in international trade, US businesses facing economic coercion abroad
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
Development finance institutions, Foreign investors in the US, Foreign investors targeting US localities
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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