PROFIT Act would reorganize State Department economic diplomacy

What This Bill Does

The PROFIT Act of 2026 would reorganize parts of the State Department to give economic policy, sanctions, energy, technology, and environmental issues a more central role in U.S. foreign policy. It creates a new Under Secretary of State for Economic Growth, Energy, and the Environment and places several related offices under that chain of command, including a Chief Economist and an Assistant Secretary for Sanctions Policy. The bill also changes how the International Technology Security and Innovation Fund is administered, directing it through that new under secretary. For ordinary Americans, the bill mainly affects how the federal government manages trade, sanctions, energy security, and economic competition abroad rather than creating direct benefits or costs to households.

• Creates a new Under Secretary of State for Economic Growth, Energy, and the Environment.
• Gives that under secretary oversight of the International Technology Security and Innovation Fund.
• Establishes an Assistant Secretary for Sanctions Policy and a Bureau of Sanctions Policy.
• Creates a Chief Economist office at the State Department.
• Directs the State Department to coordinate sanctions, trade, energy, technology, and natural-resource policy more closely.

Who This Bill Affects

For a typical American, this bill would not change taxes, benefits, or eligibility for a federal program directly. Its effects would be indirect: it could influence sanctions, trade, energy security, and technology policy that affect prices, supply chains, and U.S. leverage abroad. If you work in exporting, importing, energy, technology, or international business, the bill could matter more because it centralizes those issues at the State Department and gives sanctions policy a more formal home.

Who Supports & Opposes This

Key Implications

• ““There shall be in the Department an Under Secretary of State for Economic Growth, Energy, and the Environment””

  This creates a new top-level official focused on economic and energy issues inside the State Department. In practice, it elevates those topics in foreign policy decision-making and gives them a dedicated chain of command.

• ““The Fund shall be overseen and administered by the Under Secretary””

  The International Technology Security and Innovation Fund would no longer be managed in a more diffuse way inside State. That could make technology-security funding and decisions more centralized and easier to coordinate with broader economic policy.

• ““Assistant Secretary for Sanctions Policy””

  Sanctions policy would get its own senior office and bureau. That can improve coordination and enforcement, but it also signals a more institutionalized and potentially more active sanctions posture.

• ““developing policies and programs… to combat money laundering, terrorist financing, cybercrimes””

  The bill ties sanctions policy to financial crime and cyber enforcement, not just foreign governments. That means the office would be involved in a wider set of cross-border threats that affect banks, firms, and digital systems.

• ““The Chief Economist shall provide research and analysis””

  This office would help the department use economic data to guide diplomacy and national security planning. For the public, that mainly affects how the government anticipates trade shocks, sanctions effects, and strategic dependencies.

Latest Status

June 9, 2026

Received in the Senate and Read twice and referred to the Committee on Foreign Relations.

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