U.S. Sen. George Voinovich says "time is running out" for Congress to act on giving loans to U.S. automakers.

The heads of General Motors, Ford and Chrysler are on Capitol Hill asking Congress for as much as $34 billion in federal aid for their companies that are in danger of running out of money.

Last month Congress heard their pleas and began to hear bills to aid the auto industry. A bill from Voinovich (R-Cleveland) would essentially accelerate $25 billion in loans for automakers already approved by the government.

Voinovich said the Democratic Congress must act now.

“Time is running out," he said in a statement. "Senators Levin, Bond and I brokered legislation that is still the only bi-partisan proposal, which we believe with help from congressional leadership would pass both Houses and be signed by the president if taken up for a vote. I strongly believe this legislation should be voted on next week. There is absolutely no reason whatsoever to wait any longer.”