"What we're trying to do with this legislation is make sure that there's strong efforts with this bill to stabilize the economy," said Reyes.

Some around El Paso were hoping the bill would pass.

"I think it's a shame it's going to be needed, obviously it reflected in the market today," said Bea Briones of West El Paso.

When news hit that the bill didn't pass, it sent stocks plunging. The Dow Jones Industrial closed 7 percent down.

El Paso has already seen how the impact of the financial crisis trickled down to the Borderland, when Hunt Industries recently pulled out of a plan to develop land in Northeast El Paso. It's news that has many around the city concerned for their financial future.

"I'm concerned,” said Elizabeth Mendoza of Central El Paso. “I don't want to be on the other side of this. I don't want to be affected."

President George W. Bush and congressional leaders are trying to figure out whether to renegotiate the bill and possibly introduce it as soon as Thursday or exercise other options.