Producing Returns and Opportunity for Investment and Trade Act of 2026

Floor Speech

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Mrs. KIM. Mr. Speaker, I rise today in strong support of H.R. 5248, the Producing Returns and Opportunity for Investment and Trade Act, or PROFIT Act.

I thank Chairman Mast for his leadership on this bill and working with us. This is a bipartisan bill, and it is the result of months of collaborative work by the East Asia and Pacific Subcommittee and my staff.

I thank Chairman Mast for his leadership and getting us this far. His initiative to prioritize State Department reauthorization, as part of a broader all-of-committee effort, is already delivering results.

Before last year's NDAA, nearly 85 percent of the Department was unauthorized. With the passage of H.R. 5248, Chairman Mast will have pushed through legislation to bring that authorization level well above 50 percent. That is truly an amazing achievement.

I also thank Ranking Member Meeks. During the September 2025 committee markup, he rightly called this bill ``a distinct bright spot'' in the authorizing process due to its strong bipartisan refinement.

I am delighted that we have been able to bring this bill to the House floor under suspension today. Passing H.R. 5248 alongside other State Department authorization legislation fulfills a core responsibility of the Foreign Affairs Committee, producing an annual authorization bill.

Regrettably, the committee has neglected this fundamental duty for over two decades, and the costs of that neglect have grown steadily.

Without regular authorizations, we cede policy direction to other committees and must rely on their vehicles to advance our priorities. Oversight suffers as the Department becomes less responsive, delaying witnesses, ignoring document requests and briefings, and we fall short of our Article I constitutional responsibilities.

Unchecked, the Department, like most government agencies, expands, loses focus, and accumulates bloat. Bureaus and offices created to serve one administration's priorities persist, layering new offices on top of old ones and creating redundancy and inefficiency. The Department of State that this administration inherited was rife with bloat, government waste, and slowed decisionmaking.

The PROFIT Act is a critical step to restoring regular order to the authorization process. It codifies what President Trump has said repeatedly: economic security is national security; economic policy is foreign policy.

This bill realigns bureaus and offices under the Under Secretary for Economic Growth, Energy, and the Environment, placing commercial diplomacy at the forefront of America First foreign policy. It signals strong support to American companies in critical minerals, energy, and related sectors. The Department will work to open markets, reduce dangerous supply chain dependence on China and other adversaries, and level the playing field so U.S. firms can compete and win abroad.

Mr. Speaker, this bill is a vital piece of the committee's broader effort. At a time of unprecedented challenges to our economic sovereignty, the Department's tools must be fit for purpose. H.R. 5248 equips it to prioritize economic statecraft and deliver results for years to come.

Mr. Speaker, I urge my colleagues to support this bill.

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