WASHINGTON ( CNN ) -- The chief executives of Ford and GM joined their Chrysler counterpart Tuesday in agreeing to accept salaries of $ 1 a year if Congress comes through with a bailout for the automakers . Alan Mulally , chief executive officer of Ford Motor Co. , has reversed course and will accept a salary of $ 1 a year . The statements came as the Big Three automakers turned in financial plans to Congress , hoping to bolster their requests for $ 25 billion in bridge loans . GM spokesman Steve Harris said CEO Rick Wagoner had agreed to accept a $ 1 salary . Harris did n't elaborate . Ford Motor Company said the salary of its CEO , Alan Mulally , would be cut to $ 1 a year if Ford actually borrowed money from the government . When Mulally appeared before the House Financial Services Committee last month , he said he would not agree to a pay cut . In his previous appearance before Congress , Chrysler CEO Bob Nardelli said he would accept a $ 1-per-year salary if it helped Chrysler obtain its share of the rescue package . GM plans to display some of its new high-tech cars on Capitol Hill this week , a GM source told CNN . About two weeks ago , congressional Democrats ordered executives of the three automakers to show that they have viable financial turnaround plans when they return later this week to Capitol Hill . Watch why the Big Three are not all in same situation » . Ford released details of its turnaround plan in a written statement Tuesday . The automaker said that , based on current business planning assumptions , it expects its overall and its North American automotive business pre-tax results to break even or be profitable in 2011 . The company also released initial details of an accelerated vehicle electrification plan for a family of hybrids , plug-in hybrids and battery electric vehicles . The plan includes a Ford full-battery electric vehicle ( BEV ) in a van for commercial fleet use in 2010 and a BEV sedan in 2011 , the statement said . Ford said it plans to invest about $ 14 billion in the United States on advanced technologies and products to improve fuel efficiency during the next seven years . It also said it will sell its corporate aircraft as part of its cash-improvement plan . Speaking to reporters Tuesday , Senate Majority Leader Harry Reid , D-Nevada , said he would not support a bailout package unless the companies could prove that they would be viable after the bailout . Reid did not commit to holding a vote on the bailout package . `` No one is too big to fail , '' Reid said . `` We hope we can work something out with them . '' One of Reid 's aides said the senator had not read the Ford plan yet because he was involved in back-to-back meetings . GM , Ford , and Chrysler already have made sizable cuts in production and staffing throughout the year , with additional cuts expected in the next few months . Their plans were being submitted to the Democratic chairmen of the committees that will hear the automakers ' requests -- Sen. Christopher Dodd of Connecticut , whose Banking , Housing and Urban Affairs Committee convenes Thursday , and Rep. Barney Frank of Massachusetts , whose House Financial Services Committee meets Friday . Lawmakers asked the automakers to describe how they will restructure their businesses to become more competitive . In general , the automakers have been asked to describe how much money they have , and how much they need to stay viable in the long term . Their plans also must address how the companies will meet health care and pension obligations to workers . After being criticized during their last trip for arriving in Washington in corporate jets , Mulally and Wagoner are driving to the nation 's capital in hybrid cars -- Mulally in a Ford Escape and Wagoner in a Chevrolet Malibu . A Ford executive told CNN the company 's plan , 20 to 30 pages long , was being e-mailed to Congress . He said the plan put a heavy emphasis on advanced technologies . Ford is worried , however , that even after doing a `` bang-up job '' on its report , the company may not receive what it needs , the executive said . The atmosphere in Congress was tense before Thanksgiving , he said , adding that he feels `` automakers have become the whipping boy '' for the industry bailout . Automakers are counting on a rebound in demand by 2010 . But that could turn out to be unrealistic because of an `` auto bubble '' the Big Three helped to create during the past few years . Cheap financing , easy credit conditions and attractive pricing on cars due to overcapacity in the U.S. auto market caused record sales earlier this decade . Experts agree those three conditions are going to be missing for years to come , and sales will be weaker than normal at least through 2011 or 2012 . CNN 's Ted Barrett and Kate Bolduan contributed to this report .
NEW : `` No one is too big to fail , '' top Capitol Hill Democrat says . All of the Big Three automaker CEOs say they 'll accept salaries of $ about $ 14 billion a year . Auto execs return to Senate this week to offer plans for turnaround . Executives driving to Detroit from Washington in hybrid vehicles .