Sets a payment plan for when the federal debt limit is hit. The Treasury must pay bills in a fixed order (Tier I through Tier V), focusing first on the highest‑priority obligations. It also lets the Treasury issue specific obligations only to make top‑priority (Tier I) payments and requires weekly reports to Congress on what was paid and what was issued.

This aims to prevent a total default by prioritizing certain payments, but it could delay lower‑priority payments to agencies, beneficiaries, and contractors until cash is available. It adds transparency by requiring frequent updates to congressional committees.