However, according to some experts, the collapse of even one of the Big Three could have vast repercussions across the nation.
"If GM went into bankruptcy, they'd take Chrysler and Ford with them," Mark Zandi, chief economist and cofounder of Moody's Economy.com, told "Good Morning America." If that happened, unemployment could easily jump to 10 percent, Zandi said.
GM Chief Operating Officer Fritz Henderson said as much last week during his plead for assistance.
"There isn't a Plan B ... the company will default in the near term, very likely precipitating a total collapse of the domestic industry and its extensive supply chain, with a ripple effect that would have severe, long-term consequences to the U.S. economy," Henderson said.
At a press conference last week, Pelosi said bankruptcy was "not an option."
Despite Congressional leaders' optimism that the bill have enough support to pass next week, whether it would be enough to aid the failing industry remains to be seen.
"We are looking to make sure that we're doing everything we can to take care of the auto industry, if in fact it's viable that it is it's not just throw them a rope that doesn't get them to shore," said Reid after a round table discussion on renewable energy in Washington.
Keith Brown, president of a local United Auto Workers in Detriot and 16-year Ford employee, is watching and waiting.
"I'm cautiously optimistic that the Congress and the White House are working in a bipartisan manner to help the Big Three," Brown told "Good Morning America." "But it's too early to speculate because the details are sketchy right now."
Jonathan Karl and The Associated Press contributed to this report.
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