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I found the owner's manual online and apparently on a 2001 Ford Taurus SES that light is (it's NOT the brake light, by the way):

Check Transaxle Momentarily illuminates when the ignition is turned to the ON position. Illumination of this light indicates that a problem has been detected and shifting may be restricted. If this lamp remains on, have your vehicle serviced immediately.

Sounds like the Hazard warning light. Check to see if they are on. Look in your owner's manual if you have one. If not, you need to get one. I have the same problem in my 2001. It is the Check Transaxle light. Most likely dealing with the transmission. Probably just low fluid.

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Q: What does the yellow exclamation light on a Ford Taurus - Mercury Sable mean?
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