December 4, 2008 Automakers pitch Congress anew on bailout plan Play video

(NECN/ABC) - The heads of the Big Three car companies are back on Capitol Hill today, looking for an auto loan. They are trying for a second time to convince lawmakers they need billions of dollars from the government to stay afloat.

They arrived in Washington not in jets, but in alternative fuel vehicles, two weeks after their first appearance. The CEOs of Chrysler, Ford and GM are once again asking for a lifeline.

With sales for the Big Three falling again last month, even the United Auto Workers are making big concessions, like delaying billions in payments to a union-run retiree health care program.

Click here to hear more from Chairman Dodd.

But, that's not enough to rescue the choking industry, and if there's no deal, they might have to declare bankruptcy this month.

With a new poll showing 60% of Americans opposed to saving the auto industry with government funds, a Democratic plan to tap the $700 billion Wall Street rescue fund to help them doesn't appear to have enough votes. That means the hope of a bailout may rest with President Bush or President-Elect Obama.

Democratic leaders are poised to blame the Bush administration, saying the Treasury Department already has the authority to use part of the financial industry bailout funds to help the auto industry.

ABC's Viviana Hurtado reports.