I don't think that is an 'emergency brake light' but a warning light referring to the problem you are having.
If it was only a low fluid level warning, this wouldn't normally affect braking as it has so either the master cylinder has failed or the vacuum brake power booster.
Try (in a safe area) pumping you pedal and note if it rises somewhat. If it does, either master or slave cylinder has blown a seal or the seals are simply worn.
To check the brake booster, with the engine off, press on the brake pedal BEFORE starting and note whether it sinks a bit one the engine has started.
If it does, the booster is likely OK.
If neither of these tests prove useful or conclusive and the car is (carefully) drivable, go to one of the chain auto parts stores and request a free scan of your on-board computer for possible stored errors relating to the braking system.
> I did notice when I pump the brakes quickly that the pedal becomes more firm but quickly goes back to the way it was if I just press it down and hold.
That is the symptom I mentioned but if you have a failed brake line, pumping the brake pedal will only pump the fluid out faster.
If you have no experience with brake systems, find a friend or a trusted mechanic who does since bleeding the brake system once it is too low on fluid (or the system has been opened for service or replacement) is mandatory, otherwise you will have air trapped in the system which will produce spongy pedal feel and possibly inadequate braking performance.
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I appreciate the advice I have gotten so far. i went out and tried pumping the brakes but noticed nothing different. I did notice when I pump the brakes quickly that the pedal becomes more firm but quickly goes back to the way it was if I just press it down and hold. Also noticed there is no brake fluid at all anymore now although it was full earlier. Also noticed what I am guessing is brake fluid on the ground just behind the right front tire. It's too dark to do much with it now. Going to take the tire off tomorrow and see if it's just a broken line or something I could easily fix as I'm unable to fix it if it's a master cylinder or brake booster, Thanks in advance for any incite.
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