This bill, titled the "Default Prevention Act," establishes a tiered system for federal payment prioritization when the national debt limit is reached. Under this system, the Secretary of the Treasury is mandated to pay Tier I obligations first, which include principal and interest on U.S. debt held by the public and trust funds, as well as Medicare payments. Following Tier I, the Secretary must then prioritize Tier II obligations , encompassing Department of Defense expenditures and benefits administered by the Department of Veterans Affairs. Subsequent tiers cover other federal obligations, with compensation for Members of Congress designated as the lowest priority (Tier V). To ensure the payment of these critical obligations, the bill authorizes the Secretary to issue new debt specifically for covering Tier I payments or for trust funds. Crucially, these newly issued obligations are temporarily exempt from the statutory debt limit until that limit is modified or suspended. The legislation also requires the Secretary to submit weekly reports to Congress detailing the payments made and any unpaid obligations across all tiers, aiming to prevent a default on the nation's debt while maintaining essential government functions.