This Act restructures the State Department to strengthen economic diplomacy by creating new high-level economic and energy positions, establishing specialized bureaus, and bolstering economic expertise across foreign policy functions.
Young Kim
Representative
CA-40
The PROFIT Act of 2026 significantly restructures the State Department to prioritize economic diplomacy. It establishes a new Under Secretary for Economic Growth, Energy, and the Environment to oversee key economic functions, alongside creating new Assistant Secretary roles for Sanctions Policy, Energy Security, and Water/Environment/Space Affairs. The bill also bolsters economic expertise within the Department and establishes an International Technology Security and Innovation Fund.
State Department Overhaul Creates New Economic Powerhouse to Boost U.S. Business and Energy Security Abroad
The PROFIT Act of 2026 fundamentally rewires the State Department to put your wallet and the nation’s energy bills at the center of foreign policy. By creating a high-level Under Secretary for Economic Growth, Energy, and the Environment, the bill moves economic interests from the sidelines to the main stage of diplomacy. This means the people representing the U.S. overseas will have a new, specific mandate to open foreign markets for American companies and protect the global standing of the U.S. dollar, essentially turning our diplomatic corps into a high-powered business advocacy team.
A New Playbook for Global Markets
The bill establishes a dedicated Assistant Secretary for Economic and Business Affairs (Sec. 7) to act as a global fixer for American commerce. For a software developer in Austin or a manufacturer in Ohio, this looks like the government actively fighting to resolve trade disputes and helping U.S. firms win international contracts. It’s not just about the big players; the bill tasks this office with identifying foreign market opportunities for U.S. firms of all sizes and ensuring that private sector concerns are baked into our foreign policy decisions before they are finalized.
Securing the Power Grid and the Gas Pump
Energy security gets its own dedicated leadership with the creation of the Assistant Secretary for Energy Security and Diplomacy (Sec. 9). This office is focused on diversifying the supply chains for critical minerals—the stuff needed for everything from smartphones to EV batteries—so we aren't reliant on a single, potentially hostile country. By placing energy advisors directly in U.S. embassies (Sec. 13), the bill aims to ensure that when global energy prices fluctuate or supply lines are threatened, the U.S. has experts on the ground working to keep resources flowing and costs stable for families back home.
Local Diplomacy and Expert Insight
In a unique move, the bill creates an Office of Subnational Diplomacy (Sec. 8) based in Los Angeles to help mayors and governors attract foreign investment directly to their home states. This means your local city council could get federal help bidding for major international events or vetting foreign investments to ensure they are safe and beneficial for the community. To make sure these high-stakes decisions are based on data rather than just politics, the bill also installs a Chief Economist (Sec. 6) who must hold a doctorate and have years of real-world experience, ensuring the State Department’s strategy is grounded in rigorous financial forecasting.