Congressional Record, Volume 172 Issue 96 (Monday, June 8, 2026)

[Congressional Record Volume 172, Number 96 (Monday, June 8, 2026)]
[House]
[Pages H3950-H3954]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

PRODUCING RETURNS AND OPPORTUNITY FOR INVESTMENT AND TRADE ACT OF 2026

Mr. MAST. Mr. Speaker, I move to suspend the rules and pass the bill
(H.R. 5248) to ensure the alignment of economic and foreign policies,
to position the Department of State to reflect that economic security
is national security, and for other purposes.
The Clerk read the title of the bill.
The text of the bill is as follows:

H.R. 5248

Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,

TITLE V--ECONOMIC AFFAIRS

SEC. 501. UNDER SECRETARY FOR ECONOMIC AFFAIRS.

(a) Establishment.--There shall be in the Department an
Under Secretary for Economic Affairs who shall be responsible
to the Secretary for matters pertaining to economic growth,
commercial expansion, energy, technology policy and
innovation, scientific research, commercial outer space
affairs, critical minerals, water and the environment,
protection of natural resources, sanctions policies, and such
other related duties as the Secretary may from time to time
designate.
(b) Responsibilities.--In addition to the responsibilities
described under subsection (a), the Under Secretary for
Economic Affairs shall maintain continuous observation and
coordination of all matters pertaining to economic and
business affairs in the conduct of foreign policy, including,
as appropriate, the following:
(1) Preparing an annual strategic plan for expanding
opportunities for United States private sector companies in
international markets, coordinating the use of sanctions to
achieve national security objectives, promoting international
trade and investment, developing international policies
around new and emerging technologies, ensuring United States
leadership in science and technology, protecting natural
resources, and promoting United States energy interests.
(2) Developing policies for consideration by the Secretary
to promote economic growth, facilitate market access, create
business enabling environments abroad, expand trade and
investment opportunities for United States companies, promote
United States energy exports and energy security, conserve
and manage economically important ecosystems and resources,
expand access to critical minerals abroad, support United
States civil and commercial space governance, promote
international standards, policies, and best practices for
emerging technology that facilitate United States economic
growth, and safeguard the preeminence of the United States
dollar in international markets.
(3) Promoting United States international economic
interests to be addressed in the Biannual National Economic
Security Strategy Report, coordinated by the Office of the
Chief Economist.
(4) Attending and participating in meetings of the National
Security Council, and National Space Council, when
applicable, at the direction of the Secretary, for matters
related to economic growth, energy, and commercial expansion,
commercial outer space affairs, oceans, science and
technology developments, natural resource protection, and
fulfill the role of Foreign Affairs Sous Sherpa relating to
the activities of the Group of Seven Industrial Nations (G-
7).
(5) Providing guidance to Department personnel in the
United States and overseas who conduct or implement policies,
programs, and activities related to economic growth, energy,
and commercial expansion, science and technology affairs,
natural resource conservation, and civil and commercial
activities in outer space.
(6) Coordinating activities related to promoting economic
growth, facilitating market access, creating business
enabling environments abroad, expanding trade and investment
opportunities, promoting of energy exports, conserving and
managing economically important ecosystems and resources,
expanding access to critical minerals, maintaining United
States leadership in science, technology, and outer space,
and safeguarding the preeminence of the United States dollar
in international markets.
(7) As directed by the Secretary, representing the
Department at interdepartmental meetings including the
National Economic Council, Homeland Security Council, Council
on Environmental Quality, and in providing policy advice to
the Secretary on matters under consideration by these groups.
(c) First Appointment.--On the date of the enactment of
this Act, the individual serving before such date of
enactment as the Under Secretary for Economic Growth, Energy
and the Environment shall be the Under Secretary for Economic
Affairs. Any subsequent appointment of an individual to the
position of Under Secretary for Economic Affairs shall be
subject to the advice and consent of the Senate.

SEC. 502. ADMINISTRATION OF THE INTERNATIONAL TECHNOLOGY
SECURITY AND INNOVATION FUND.

Section 102(c) of the CHIPS Act of 2022 (Public Law 117-
167; 136 Stat. 1375) is amended--
(1) in paragraph (1)--
(A) by inserting ``, acting through the Under Secretary of
State for Economic Affairs'' after ``Secretary of State'';
and
(B) by adding at the end the following: ``Within the
Department of State, the Fund shall be overseen and
administered by the Under Secretary for Economic Affairs.''.
(2) in paragraph (2)(B), by inserting ``, acting through
the Under Secretary of State for Economic Affairs'' after
``Secretary of State''.

SEC. 503. AUTHORIZATION OF APPROPRIATIONS FOR ECONOMIC
AFFAIRS.

(a) Administration of Accounts.--The Under Secretary for
Economic Affairs shall direct, oversee, and otherwise
exercise responsibility of funds made available for the
International Technology Security and Innovation Fund.
(b) Authorization of Appropriations.--Of the funds
authorized to be appropriated to the Secretary of State under
section 141, the Under Secretary for Economic Affairs shall
receive the funds necessary to fulfill the Under Secretary's
responsibilities for fiscal years 2026 and 2027.

SEC. 504. CHIEF ECONOMIST.

(a) Establishment.--There is authorized to be in the
Department a Chief Economist who shall be responsible to the
Under Secretary for Economic Affairs for matters pertaining
to analyzing and forecasting the impact of economic trends on
diplomatic functions and national security priorities, and
such other related duties as the Secretary may from time to
time designate.
(b) Responsibilities.--In addition to the responsibilities
described under subsection (a), the Chief Economist shall
provide research and analysis to inform the Department's
strategy for deploying international economic policy to
strengthen alliances, deter malign foreign actors, and reduce
dependencies on strategic rivals in the conduct of foreign
policy, including, as appropriate, the following:
(1) Providing research and analysis to inform the
development of the Department's strategy for deploying
foreign policy to ensure supply chain resilience, secure
access to raw materials and critical minerals, and maximize
international market access.
(2) Providing analysis of complex, emerging geoeconomic
issues and offer advice to Department leadership on economic
diplomacy challenges.
(3) Conducting research and rigorous, data-driven analysis
of high priority issues at the intersection of economics and
foreign policy to inform decision-making and diplomatic
engagements by senior Department officials.
(4) Maintaining analytical products for the Department on
international economic issues, including on sanctions evasion
and the vulnerabilities of the United States and its partners
to economic coercion, as well as the economic opportunities
for United States businesses.
(5) Contributing to the expansion of the economic expertise
of the Department through collaboration with the Foreign
Service Institute, the academic community, international
organizations, and other Federal departments and agencies the
Chief Economist determines necessary.
(6) Serving as a liaison to technical experts in economics
and related fields in partner governments, international
institutions, and elsewhere in the United States government
and academic community.

[[Page H3951]]

(7) Performing such other duties as the Under Secretary for
Economic Affairs may from time to time designate.
(c) Report.--Not later than one year after the date of the
enactment of this section, and every two years for the
subsequent four years, the Chief Economist shall transmit to
Congress a report on the international economic strategy of
the United States and its analytical basis. In preparing the
report, the Chief Economist shall coordinate input and
analysis from other bureaus within the Under Secretary for
Economic Affairs.

SEC. 505. OFFICE OF THE CHIEF ECONOMIST.

(a) Establishment.--The Secretary shall establish an Office
of the Chief Economist, which shall perform such functions
related to the provision of expert economic advice and
analysis, as the Under Secretary for Economic Affairs may
prescribe.
(b) Chief Economist.--The Chief Economist shall be the head
of the Office of the Chief Economist.

SEC. 506. AUTHORIZATION OF APPROPRIATIONS FOR THE CHIEF
ECONOMIST.

Of the funds authorized to be appropriated to the Under
Secretary for Economic Affairs under section 503, the Chief
Economist shall receive the funds necessary to fulfill Office
functions and the Chief Economist's responsibilities for
fiscal years 2026 and 2027.

SEC. 507. ASSISTANT SECRETARY FOR COMMERCIAL DIPLOMACY.

(a) Establishment.--There is authorized to be in the
Department an Assistant Secretary?for Commercial Diplomacy
who shall be responsible to the Under Secretary for Economic
Affairs for matters pertaining to the trade and investment
promotion and policy, international finance and development,
transportation affairs, and such other related duties as the
Secretary may from time to time designate.
(b) Responsibilities.--In addition to the responsibilities
described under subsection (a), the Assistant Secretary for
Commercial Diplomacy shall be responsible for leading
Department policies and programs, and coordinating with other
United States agencies as appropriate, for all matters
pertaining to the following:
(1) Trade and investment promotion, such as--
(A) assisting and advocating for United States businesses
and commercial interests overseas;
(B) identifying foreign market opportunities for United
States businesses and helping United States firms overcome
challenges in foreign business climates;
(C) helping United States companies compete for and win
contracts in foreign markets;
(D) attracting foreign investment into the United States by
identifying high potential businesses in foreign countries;
(E) ensuring United States private sector concerns are
integrated into United States foreign policy and economic
policy; and
(F) promoting international commercial projects that
advance the national security interests of the United States,
regardless of domestic content thresholds.
(2) International trade policy, including negotiating and
implementing trade agreements, resolving trade disputes,
bolstering supply chain resilience, and protecting
intellectual property rights.
(3) International investment policy, including monitoring
international investment climates, negotiating and
implementing investment agreements, representing the
Department in the Committee on Foreign Investment in the
United States, and assisting United States companies involved
in investment disputes with foreign governments.
(4) Development finance, including the mobilization of
private, bilateral, and multilateral development finance for
developing countries, particularly investments focused on
infrastructure projects.
(5) The negotiation and extension of debt relief and
sovereign loan guarantees for United States allies and
partners.
(6) The promotion of sound, transparent, and stable
economic policies overseas.
(7) Perform such other duties as the Under Secretary for
Economic Affairs may from time to time designate.
(c) First Appointment.--On the date of the enactment of
this Act, the individual serving before such date of
enactment as the Assistant Secretary for Economic and
Business Affairs shall be the Assistant Secretary for
Commercial Diplomacy. Any subsequent appointment of an
individual to the position of Assistant Secretary for
Commercial Diplomacy shall be subject to the advice and
consent of the Senate.

SEC. 508. BUREAU OF COMMERCIAL DIPLOMACY.

(a) Establishment.--The Secretary shall establish a Bureau
of Commercial Diplomacy which shall perform such functions
related to trade and investment promotion and policy,
international finance and development, and transportation
affairs, as the Under Secretary for Economic Affairs may
prescribe.
(b) Assistant Secretary.--The Assistant Secretary for
Commercial Diplomacy shall be the head of the Bureau of
Commercial Diplomacy.

SEC. 510. ENHANCING SUBNATIONAL DIPLOMACY.

(a) Establishment.--There shall be established in the
Department an Office of Subnational Diplomacy. The Office
shall enable the Department's work with subnational
governments (state, county, city, and municipal) within the
United States to improve the ability of subnational
governments to attract foreign investment, counter foreign
malign influence within the United States, and contribute to
the foreign policy priorities of the United States.
(b) Coordinator.--The head of the Office shall be the
Coordinator for Subnational Diplomacy. The head of the office
shall report through the Assistant Secretary for Commercial
Diplomacy to the Under Secretary for Economic Affairs.
(c) Responsibilities.--In addition to the responsibilities
described under subsection (a), the Coordinator for
Subnational Diplomacy shall maintain continuous observation
and coordination of all matters pertaining to subnational
diplomacy and Department engagements with subnational
governments in the conduct of foreign policy, including the
following:
(1) Advising the Under Secretary for Economic Affairs on
subnational engagements within the United States and serve as
the principal official on such matters within the Department.
(2) Coordinating the Department's support for local and
municipal governments' engagements with foreign governments.
(3) Advising subnational government officials on the
potential risks of engagements with countries of concern and
share best practices to build resilience against foreign
political interference and malign influence.
(4) Assisting subnational governments in the following
areas:
(A) Attracting or bidding to host major international
events.
(B) Tracking foreign direct investment at the county and
municipal levels to highlight trends and opportunities.
(C) Attracting foreign direct investment and other forms of
economic cooperation.
(D) Building the capacity and knowledge of subnational
government staff who have responsibility for engaging with
foreign countries.
(E) Advancing sports diplomacy with foreign countries and
entities.
(F) Implementing programs to cooperate with foreign
governments and entities on policy priorities or managing
shared resources.
(G) Understanding the local implications of foreign policy
developments or policy changes.
(5) Supporting the economic interests of the United States
through subnational engagements, in consultation and
coordination with other relevant agencies.
(6) Advising and informing local officials as they
negotiate agreements and memoranda of understanding with
foreign governments related to subnational engagements and
priorities.
(7) Coordinating subnational engagements with associations
of subnational elected leaders, including the United States
Conference of Mayors, National Governors Association,
National League of Cities and similar associations.
(8) Performing other such duties as the Assistant Secretary
for Commercial Diplomacy and the Under Secretary for Economic
Affairs may from time to time designate.

SEC. 511. AUTHORIZATION OF APPROPRIATIONS FOR COMMERCIAL
DIPLOMACY.

Of the funds authorized to be appropriated to the Under
Secretary for Economic Affairs under section 503, the
Assistant Secretary for Commercial Diplomacy shall receive
the funds necessary to fulfill Bureau functions and the
Assistant Secretary's responsibilities for fiscal years 2026
and 2027.

SEC. 512. ASSISTANT SECRETARY FOR WATER, ENVIRONMENT, AND
SPACE AFFAIRS.

(a) Establishment.--There is authorized to be in the
Department an Assistant Secretary for Water, Environment, and
Space Affairs who shall be responsible to the Under Secretary
for Economic Affairs for matters pertaining to space, oceans,
polar affairs, environmental quality, freshwater, fisheries,
wildlife and wildlife trafficking, conservation, and such
other related duties as the Secretary may from time to time
designate.
(b) Responsibilities.--In addition to the responsibilities
described under subsection (a), the Assistant Secretary for
Water, Environment, and Space Affairs shall maintain
continuous observation and coordination of all matters
pertaining to oceans, fisheries, natural resource
conservation, and outer space in the conduct of foreign
policy, including, as appropriate, the following:
(1) Developing United States policy on global environmental
security issues with respect to oceans, fisheries, Antarctic
region, waste and global pollution, and natural resource
management and conservation, including water.
(2) Representing the Department in bilateral and
multilateral negotiations involving the law of the sea,
including freedom of navigation and overflight and other
lawful uses of the ocean; maritime security; United States
maritime zones, including the United States extended
continental shelf; marine science; sustainable management and
protection of marine habitats and resources; marine
pollution; and maritime claims and boundaries.
(3) Leading United States engagement on Antarctica and in
international oceans agreements and conventions with foreign
governments and international organizations to promote
solutions that advance United States national security,
economic, and environmental interests.
(4) Coordinating the development of policies and programs
to conserve and manage economically important ecosystems,
including, forests, wetlands, drylands, and coral reefs.

[[Page H3952]]

(5) Developing policies and programs to address
international threats to natural resources including but not
limited to illicit trade; illegal, unreported and unregulated
fishing; wildlife trafficking; and illegal logging and
associated trade.
(6) Developing and implementing United States foreign
policy related to air, water and soil pollution and risks to
human health and the environment caused by the transboundary
movement of hazardous chemicals and waste and other forms of
pollution to promote environmental security with trade
partners and in multilateral institutions.
(7) Representing the Department in bilateral and
multilateral engagements including organizations,
institutions, and negotiation of international agreements on
related issues.
(8) Developing policies and programs, in coordination with
the National Aeronautics and Space Administration, the
Department of Commerce, and other relevant Federal
departments and agencies, as appropriate, to support
partnerships between the United States and international and
private industry partners in the development of
infrastructure and policies that expand economic growth in
outer space, including--
(A) countering malign efforts by foreign adversaries and
other actors that threaten United States interests in civil
and commercial space;
(B) expanding access to foreign markets for United States
commercial industry, including by encouraging reforms that
reduce barriers to trade and cooperation with United States
civil and commercial space actors; and
(C) providing assistance to foreign governments and
organizations, including national, regional, and
international institutions, on such terms and conditions as
the Secretary may determine.
(9) Leading bilateral and multilateral engagements related
to civil and commercial space activities, resilient space
services, burden sharing, and other matters related to
international space law and diplomacy and other United States
international obligations and commitments.
(10) In accordance with the National Space Policy, leading
United States Government engagement with international Global
Navigation Satellite Systems providers to ensure
compatibility and encourage interoperability of civil global
navigation satellite services based on United States-based
global positioning systems, including through the
International Committee on Global Navigation Satellite
Systems.
(11) Leading Department efforts to implement international
arrangements and promote cooperation on Earth observation
satellite systems.
(12) Leading Department engagement in multilateral and
bilateral forums on international space policy, space law,
and commercial and civil treaties or agreements.
(13) Leading Department efforts on transparency in space by
maintaining the official United States space object registry
and promoting best practices for safe operations in space,
preservation of the space environment, space traffic
coordination, and space situational awareness.
(14) Leading Department efforts to align foreign space law,
regulatory, and policy frameworks with United States-endorsed
models, approaches, and best practices.
(15) Performing such other duties as the Under Secretary
for Economic Affairs may from time to time designate.
(c) First Appointment.--On the date of the enactment of
this Act, the individual serving as the Assistant Secretary
for Oceans and International Environmental and Scientific
Affairs on the day before such date of enactment shall be the
Assistant Secretary for Water, Environment, and Space
Affairs. Any subsequent appointment of an individual to the
position of Assistant Secretary for Water, Environment, and
Space Affairs shall be subject to the advice and consent of
the Senate.

SEC. 513. BUREAU OF WATER, ENVIRONMENT, AND SPACE AFFAIRS.

(a) Establishment.--The Secretary shall establish a Bureau
of Water, Environment, and Space Affairs, which shall perform
such functions related to space, oceans, environmental
quality, fisheries, wildlife, and wildlife trafficking, and
conservation affairs, as the Under Secretary for Economic
Affairs may prescribe.
(b) Assistant Secretary.--The Assistant Secretary for
Water, Environment, and Space Affairs shall be the head of
the Bureau of Water, Environment, and Space Affairs.

SEC. 514. AUTHORIZATION OF APPROPRIATIONS FOR WATER,
ENVIRONMENT, AND SPACE AFFAIRS.

Of the funds authorized to be appropriated to the Under
Secretary for Economic Affairs under section 503, the
Assistant Secretary for Water, Environment, and Space Affairs
shall receive the funds necessary to fulfill Bureau functions
and the Assistant Secretary's responsibilities for fiscal
years 2026 and 2027.

SEC. 515. ASSISTANT SECRETARY FOR ENERGY SECURITY AND
DIPLOMACY.

(a) Establishment.--There is authorized to be in the
Department an Assistant Secretary for Energy Security and
Diplomacy who shall be responsible to the Under Secretary for
Economic Affairs for all matters pertaining to the
formulation and implementation of international energy,
energy technology, critical minerals, and relevant supply
chain policies in the conduct of foreign policy by the
Department, including, as appropriate, to protect United
States energy security interests, lead the coordination of
energy programs carried out by United States Government
agencies abroad, and such other related duties as the
Secretary may from time to time designate.
(b) Responsibilities.--In addition to the responsibilities
described under subsection (a), the Assistant Secretary for
Energy Security and Diplomacy shall maintain continuous
observation and coordination of all matters pertaining to the
development of policies to secure access to international
energy markets and diversify critical mineral supply chains
in the conduct of foreign policy, including, as appropriate,
the following:
(1) Representing the Secretary in interagency efforts to
develop the international energy policy of the United States.
(2) Leading the analysis, formulation, and implementation
of international policies aimed at protecting and advancing
United States energy interests.
(3) Effectively managing United States bilateral and
multilateral relations and, as directed by the Secretary,
representing the Secretary in relevant international fora and
organizations, including the International Energy Agency, to
bolster global energy security and advance the interests of
the United States.
(4) Ensuring that analyses of the national security and
economic security implications of global energy developments
are reflected in the decision-making processes within the
Department.
(5) Incorporating energy and critical mineral security
priorities into the activities of the Department.
(6) Coordinating energy activities of the Department with
relevant Federal departments and agencies, including the
Departments of Energy, Commerce, Defense, and Interior, and
the Development Finance Corporation to promote United States
energy security and energy development to support United
States national security readiness.
(7) Coordinating with the Bureau of Sanctions Policy on
economic sanctions pertaining to the international energy
sector.
(8) Coordinating energy security and other relevant
functions within the Department currently undertaken by--
(A) the Bureau of Commercial Diplomacy;
(B) the Bureau of Water, Environment, and Space Affairs;
(C) the Bureau of Arms Control and Nonproliferation; and
(D) other bureaus and offices within the Department.
(9) Working internationally to--
(A) support the development of energy technologies, natural
resources, critical minerals, and supply chains for the
benefit of the United States and United States allies and
trading partners for their energy security and economic
development needs;
(B) promote secure and diversified energy and critical
minerals supply chains, and a well-functioning global market
for energy resources, energy technologies, critical minerals;
(C) resolve international disputes regarding the
exploration, development, production, or distribution of
energy and critical minerals resources where the United
States strategic interests are present;
(D) support the economic and commercial interests of United
States persons operating in the energy markets of foreign
countries; and
(E) support and coordinate international efforts to
alleviate energy poverty, enhance energy access and energy
efficiency to promote United States strategic interests and
offer alternatives to adversary initiatives for United States
allies and partners.
(10) Conducting public diplomacy with regard to United
States international energy policy to strengthen transparency
and governance.
(11) Performing such other duties as the Under Secretary
for Economic Affairs may from time to time designate.
(c) Annual Report.--Not later than one year after the date
of the enactment of this section, and annually thereafter for
three years, the Assistant Secretary for Energy Security and
Diplomacy shall submit to Congress a report on the United
States international energy strategy.

SEC. 516. BUREAU OF ENERGY SECURITY AND DIPLOMACY.

(a) Establishment.--The Secretary shall establish a Bureau
of Energy Security and Diplomacy, which shall perform such
functions related to the formulation and implementation of
international energy, energy technology, critical minerals,
and relevant supply chain policies, as the Under Secretary
for Economic Affairs may prescribe.
(b) Assistant Secretary.--The Assistant Secretary for
Energy Security and Diplomacy shall be the head of the Bureau
of Energy Security and Diplomacy.

SEC. 517. AUTHORIZATION OF APPROPRIATIONS FOR ENERGY SECURITY
AND DIPLOMACY.

Of the funds authorized to be appropriated to the Under
Secretary for Economic Affairs under section 503, the
Assistant Secretary for Energy Security and Diplomacy shall
receive the funds necessary to fulfill Bureau functions and
the Assistant Secretary's responsibilities for fiscal years
2026 and 2027.

SEC. 518. ASSISTANT SECRETARY FOR SANCTIONS POLICY.

(a) Establishment.--There is authorized to be in the
Department an Assistant Secretary for Sanctions Policy, who
shall be responsible to the Under Secretary for Economic
Affairs for matters pertaining to the

[[Page H3953]]

development of policies governing the imposition of
sanctions, in consultation with the Under Secretary for
International Security Affairs and the Assistant Secretary
for Arms Control and Nonproliferation as appropriate, and
such other related duties as the Secretary may from time to
time designate.
(b) Responsibilities.--In addition to the responsibilities
described under subsection (a), the Assistant Secretary for
Sanctions Policy shall maintain continuous observation and
coordination of all matters pertaining to the development and
implementation of sanctions policies as part of United States
diplomatic strategies in the conduct of foreign policy,
including, as appropriate, the following:
(1) Developing the foreign policy strategy of United States
sanctions programs, including consideration of the use of
sanctions in combination with other United States foreign
policy tools and the political and economic implications of
sanction policies.
(2) Coordinating the effective implementation and
enforcement of sanctions, including all activities, policies,
and programs pertaining to sanctions within the Department.
(3) Coordinating sanctions policy with foreign partners and
allies to ensure the maximum effectiveness of sanctions
imposed by the United States and such allies and partners.
(4) Consulting regularly with a broad range of stakeholders
on the implications of United States sanctions policy for
United States economic interests.
(5) Contributing to the reports to Congress produced by the
Chief Economist.
(6) Leading the Department's efforts to identify and
designate individuals for visa sanctions related to human
rights violations.
(7) Developing policies and programs, in coordination with
the Department of the Treasury and other Federal departments
and agencies as necessary and with foreign partners, to
combat money laundering, terrorist financing, cybercrimes,
and other illicit financial activities.
(8) Representing the Department in all interagency groups
or organizations within the executive branch that plan,
assess, analyze, or review United States sanctions policies,
such as interagency groups organized under the auspices of
the Department of the Treasury, the Department of Commerce,
and the Department of Homeland Security.
(9) Performing such other duties as the Under Secretary for
Economic Affairs may from time to time designate.
(c) Redelegation of Authority.--The Secretary may delegate,
or authorize successive redelegation of, authority to the
Assistant Secretary for Sanctions Policy to act and to render
decisions, with respect to all sanctions policies
administered by the Department. Within the limitations of
such delegations, redelegations, or assignments, all official
acts and decisions by the Assistant Secretary for Sanctions
Policy shall have the same force and effect as though
performed or rendered by the Secretary.
(d) First Appointment.--On the date of the enactment of
this Act, the individual serving before such date of
enactment as the Coordinator for Sanctions shall be the
Assistant Secretary for Sanctions Policy. Any subsequent
appointment of an individual to the position of Assistant
Secretary for Sanctions Policy shall be subject to the advice
and consent of the Senate.

SEC. 519. BUREAU OF SANCTIONS POLICY.

(a) Establishment.--The Secretary shall establish a Bureau
of Sanctions Policy, which shall perform such functions
related to the development of policies governing the
imposition of sanctions and sanctions strategies, as the
Under Secretary for Economic Affairs may prescribe.
(b) Assistant Secretary.--The Assistant Secretary for
Sanctions Policy shall be the head of the Bureau of Sanctions
Policy.

SEC. 520. AUTHORIZATION OF APPROPRIATIONS FOR SANCTIONS
POLICY.

Of the funds authorized to be appropriated to the Under
Secretary for Economic Affairs under section 503, the
Assistant Secretary for Sanctions Policy shall receive the
funds necessary to fulfill Bureau functions and the Assistant
Secretary's responsibilities for fiscal years 2026 and 2027.

SEC. 521. REFERENCES.

Any reference in any statute, reorganization plan,
Executive order, regulation, agreement, determination, or
other official document or proceeding to--
(1) the Under Secretary for Economic Growth, Energy and the
Environment shall be deemed to refer to the Under Secretary
for Economic Affairs;
(2) the Assistant Secretary for Economic and Business
Affairs shall be deemed to refer to the Assistant Secretary
for Commercial Diplomacy;
(3) the Bureau for Economic and Business Affairs shall be
deemed to refer to the Bureau for Commercial Diplomacy;
(4) the Assistant Secretary for Oceans and International
Environmental and Scientific Affairs shall be deemed to refer
to the Assistant Secretary for Water, Environment, and Space
Affairs;
(5) the Bureau for Oceans and International Environmental
and Scientific Affairs shall be deemed to refer to the Bureau
for Water, Environment, and Space Affairs;
(6) the Sanctions Coordinator shall be deemed to refer to
the Assistant Secretary for Sanctions Policy; and
(7) the Office of the Sanctions Coordinator shall be deemed
to refer to the Bureau of Sanctions Policy.

SEC. 522. CLASSIFICATION IN UNITED STATES CODE.

(a) The Office of Law Revision Counsel is directed to--
(1) utilize sections 129-159 of title 22, United States
Code, to classify the sections of this title; and
(2) maintain the legislative history, under editorial
notes, of repealed law which previously occupied the
corresponding sections of United States Code.

The SPEAKER pro tempore. Pursuant to the rule, the gentleman from
Florida (Mr. Mast) and the gentleman from California (Mr. Bera) each
will control 20 minutes.
The Chair recognizes the gentleman from Florida.

general leave

Mr. MAST. Mr. Speaker, I ask unanimous consent that all Members may
have 5 legislative days to revise and extend their remarks and include
extraneous material on H.R. 5248.
The SPEAKER pro tempore. Is there objection to the request of the
gentleman from Florida?
There was no objection.
Mr. MAST. Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, I rise today in support of H.R. 5248, the PROFIT Act, a
bill that I am proud to have worked on with my colleague Representative
Young Kim, who is to my right.
When I became chairman of the Foreign Affairs Committee, more than 80
percent of the State Department was unauthorized, meaning that Congress
really hadn't examined it in a long time. It has been decades since the
Department was forced to articulate its priorities and identify how it
would align its resources.
Programs that had long outlived their purpose had been allowed to
continue, wasting taxpayer dollars. Entire offices and bureaus had
become redundant.
Mr. Speaker, I am proud to say that today, because of the bills we
passed into law last year, in addition to H.R. 5248, we have now
authorized more than 55 percent of the State Department. Clearly, there
is still more work to be done.
Within the Department, the bureaus and offices that support the Under
Secretary of State for Economic Growth, Energy, and the Environment are
at the tip of the spear for implementing the America First foreign
policy. These are the offices charged with leveling the playing field
so that American companies can compete and win overseas.
This bill codifies the administration's America First foreign policy
agenda by ensuring those offices and bureaus are aligned to advance our
economic interests. As the President has repeatedly said, economic
security is national security, and economic policy is foreign policy.
Mr. Speaker, I will pause on that and reserve the balance of my time.
Mr. BERA. Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, I rise today in support of H.R. 5248, and I thank
Representative Young Kim and Chairman Mast for working to move this
package of economic diplomacy measures in a bipartisan manner.
This bill highlights the critical importance of the State
Department's E family of bureaus, which engage in critical diplomacy
related to energy and supply chains around the world. They help enhance
America's economic security by engaging in bilateral and multilateral
cooperation on issues ranging from critical minerals to space to our
oceans and the environment.
The bill codifies economic diplomacy elements and functions at the
State Department. The bill establishes a Bureau for Energy Security and
Diplomacy and a new Assistant Secretary for Sanctions Policy to
coordinate and strengthen sanctions policies at the State Department.
It codifies existing bureaus, such as the Water, Environment, and
Space Affairs Bureau, the Economic and Business Affairs Bureau, as well
as the Office of the Chief Economist and the Office of Subnational
Diplomacy.
Taken together, this bill will make economic statecraft a more
central part of the State Department and elevate the importance of
economic security and commercial diplomacy as critical elements of U.S.
foreign policy.
Mr. Speaker, I support this measure, and I urge all of my colleagues
to do the same. I reserve the balance of my time.

[[Page H3954]]

Mr. MAST. Mr. Speaker, I yield such time as she may consume to the
gentlewoman from California (Mrs. Kim), chairwoman of the East Asia and
Pacific Subcommittee.
(Pursuant to a unanimous-consent request, the remarks of Mrs. Kim
were moved to debate on H.R. 5248, as amended, in the Record.)

{time} 1630

Mr. MAST. Mr. Speaker, I was just alerted that there is a technical
error with the version of the bill that was submitted. We are going to
enjoy the debate that we just had, but we are going to withdraw the
motion.
The SPEAKER pro tempore. The motion is withdrawn.

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