House Republicans are maneuvering to advance a bill that would authorize the federal government to continue making interest payments even if the debt ceiling is hit.

The House House Ways and Means Committee is poised to consider legislation Thursday dubbed the "Default Prevention Act” from Rep. Tom McClintock (R-CA) that would outline federal payment priorities in the event Congress isn't able to resolve the debt ceiling impasse in time for the fast-approaching June deadline.

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There have been fears that if the debt ceiling scrum goes unresolved, the United States will be forced to default on the interest payments to its over $31 trillion debt load, wreaking havoc on the economy. McClintock's legislation for spending prioritization is aimed at preventing a default and keeping cash flowing to certain programs.

Democrats and Republicans have been at odds over how to raise the $31.4 trillion debt ceiling. Under the debt limit, the U.S. is barred from borrowing additional money over the threshold, despite Congress having passed allocations bills that lean on heavy deficit spending.

In January, Treasury Secretary Janet Yellen announced that the debt limit was reached. As a result, the department underwent "extraordinary measures" and moved money around from government accounts to keep the flow of federal payments going.

However, Yellen estimated that those tactics would run out by June, meaning the U.S. will not be able to fund all of its programs, including its interest payments, without borrowing.

Republicans have sought spending clawbacks in exchange for lifting the government's borrowing authority, while Democrats have demanded a clean bill with no strings attached. President Joe Biden has insisted he would not negotiate but has met with House Speaker Kevin McCarthy (R-CA).

Back in 2015, House Republicans sought a similar piece of legislation for spending prioritization; however, the measure never cleared the Senate.

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Critics have raised questions about the legality and logistical plausibility of spending prioritization. During McCarthy's quest for the gavel earlier this year, conservative holdouts reportedly demanded a vote on a prioritization measure.

“The only way to avoid this kind of economic disaster is for Congress to do its job and prevent default. Not to put forward half-baked schemes that hurt the American people,” White House spokesman Michael Kikukawa told the Washington Post.