By downgrading the importance of the Middle East in U.S. foreign policy, the Biden administration underestimates the threat of instability in the region to American security. Despite the frozen status of Israeli-Palestinian negotiations and the considerable obstacles to restart them, a U.S.-led effort could help to gradually forge a “Framework Agreement for an Israeli-Palestinian Permanent Peace.” This policy brief outlines the principles that such a framework might embody, with the essential objective of two states for two peoples.