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H.R. 5248: PROFIT Act of 2026
119th Congress · introduced 2025-09-10 · International Affairs · Latest: Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
federal
Official title
PROFIT Act of 2026
Plain summary
This bill restructures the Department of State's Office of the Under Secretary for Economic Affairs, dividing the office into four bureaus and two offices. ( The current structure is here. ) The bill also specifies the functions of these organizations and the responsibilities of the organizations' leaders. Under the bill, the following organizations fall under the Office of the Under Secretary for Economic Affairs: the Bureau of Commercial Diplomacy covers trade and investment promotion and policy, international finance and development, and transportation affairs; the Bureau of Water, Environment, and Space Affairs covers space, oceans, environmental quality, fisheries, wildlife, wildlife trafficking, and conservation affairs; the Bureau of Energy Security and Diplomacy formulates and implements international energy, energy technology, critical minerals, and relevant supply chain policies; the Bureau of Sanctions Policy develops policies governing the imposition of sanctions and sanctions strategies; the Office of the Chief Economist provides expert economic advice and analysis; and the Office of Subnational Diplomacy enables the department’s work with state and local governments within the United States to improve the ability of those governments to attract foreign investment, counter foreign malign influence within the United States, and contribute to U.S. foreign policy priorities. An assistant secretary with specified responsibilities leads each of the four bureaus. The heads of the two offices also have specified responsibilities. The Office of the Under Secretary for Economic Affairs shall administer and oversee the International Technology Security and Innovation Fund, which provides for technology security and semiconductor supply chain activities.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
What a vote does
A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
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What does this mean? (plain words)
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The strongest published arguments
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Alternatives
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Officials and money
Sponsor: Rep. Kim, Young [R-CA-40] · 2 cosponsors
Money: No cost estimate published yet. No linked contracts or vendors yet.
Words on this page, explained (2)
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
- Securities
- Financial investments that can be bought and sold, such as stocks and bonds.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-119hr5248.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/119/hr>
Record fed-us-cong119-hr5248 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills