Establishes the position of Deputy Secretary of State for Economic Security within the Department of State.
Transfers responsibilities from the Under Secretary of State for Economic Growth, Energy, and the Environment to the new Deputy Secretary.
Redesignates the Assistant Secretary for Economic and Business Affairs to Assistant Secretary for Trade and Investment Security, focusing on investment restrictions and screening.
Redesignates the Assistant Secretary for Energy Resources to Assistant Secretary for Supply Chain Security, addressing forced labor and critical supply chains.
Relocates various offices and positions within the Department to report to different principals, enhancing organizational structure.
Creates new offices under the Deputy Secretary, including:
Assistant Secretary for Strategic Foreign Assistance, focusing on foreign assistance and development.
Assistant Secretary for Technology and Innovation Security, responsible for critical technologies and research security.
Office of Economic Analysis and Targeting, tasked with economic analysis and maintaining a federal database on economic security.
Office of Legislative Solutions to propose policies and legislative actions for economic security.
Authorizes appropriations totaling $10 million for the Deputy Secretary’s operations and $25 million annually for the Office of Economic Analysis and Targeting.
Provides hiring authorities for positions within the Deputy Secretary’s office, allowing for both Schedule C and competitive service appointments.
