The so-called Detroit Three of troubled US carmakers have asked for a combined total of $34bn (£22.8bn; 26.8bn euros).
Slashing costs, reducing levels of debt and investing in greener technologies form the centre-piece of each proposal.
The chief executives of Ford and GM have even offered to work for $1 a year if Congress approves the emergency aid.
Sales at all three of the carmakers have plunged as US consumers tighten their belts in the face of the severe economic downturn. Ford sold 31% fewer light vehicles in November compared with the same month last year. GM suffered a 41% drop in sales for the month, while Chrysler fared worse still, with sales plummeting 47%.
Tough task
Analysts say the poor sales figures have highlighted what a tough task this will be. "Every manufacturer is posting awful numbers and we are no exception," said Mark LeNeve of GM North America.
Swedish government has ruled out a takeover of Volvo if Ford sells it Indeed, Honda's year-on-year US sales fell by 32% in November, while Toyota's fell by 34%.
"The consumer is scared and sitting on the sideline. We need appropriate economic stimulus to get the consumer back in the game," Mr LeNeve added.
But the White House has already expressed scepticism about the bail-out proposals. "We are sticking to our guns that the companies have to prove that they are viable before taxpayer dollars should be given to them," said White House press secretary Dana Perino. And the Swedish government has ruled out a takeover of Volvo if Ford is unable to sell it.
