Detroit bailout plans make their way to Congress

By Kevin Krolicki and John Crawley

DETROIT/WASHINGTON (Reuters) - Distressed U.S. automakers began submitting plans to Congress on Tuesday as they tried to show that they have a viable future and deserve federal aid, while new reports showed that vehicle sales continued their freefall in November.

Ford Motor Co led off with a request for a $9 billion taxpayer-funded line of credit and promised big changes ahead of the government review, lifting Wall Street.

General Motors Corp and Chrysler LLC planned to file their plans later in the afternoon, with lawmakers expecting a deep range of commitments for cutting costs and the mapping of a clear path for the industry to regain its competitive footing.

"We're trying to preserve our way of life and preserve our jobs," Chrysler President Jim Press said in Baltimore, where Chrysler exports 150,000 vehicles annually.

GM, Ford and Chrysler failed two weeks ago to obtain a $25 billion bailout from lawmakers unconvinced that taxpayer money would be well-spent considering the industry's horrible financial prospects.

Democratic leaders had asked them to return this week with retooled plans focusing on viability. Although some insiders believe the chances of aid have improved, no promises were made. The political calculus is uncertain, with Congress not even in session. Democrats hold a slim majority in the Senate and the Bush administration continued on Tuesday to back a plan not supported by many Democrats.

A key barometer will be hearings on Thursday and Friday before the Senate Banking and House Financial Services committees, respectively. Key members of those panels, especially Republicans, sharply criticized Ford, GM, and Chrysler chief executives last month.

This time, the industry will let their plans do most of the talking.