Detroit (WWJ)  -- General Motors is seeking up to $18 billion from the federal government in an attempt to keep operating. 

The plan, which was to be submitted to Congress Tuesday, says GM needs $4 billion in government loans this month and a total of $12 billion by late March.   The Detroit-based automaker also is asking for a $6 billion line of credit in case market conditions worsen.

General Motors' plan calls for cuts in the number of workers, vehicle brands and plants.  In addition,  CEO Rick Wagoner will see his salary cut to $1 for 2009 and he will not receive an annual bonus for 2008 and 2009.  In addition, other executives will see their salaries cut by 30 and 50% and they also will not receive bonuses. 

In the 37-page report, GM says it will focus on 4 brands - Chevrolet, GMC, Buick and Cadillac.  Click here to read the report. 

By 2012, the plan calls for 20,000 to 30,000 fewer workers, a reduction of nine facilities and 1,750 fewer dealers.

The automaker based the report on sales projection of 12 million units next year, down from the 13.7 million units expected this year. 

GM projects the industry will recover moderately to 14.5 million units by 2011 and 15 million units by 2012. 

The plan calls for GM to cease all corporate aircraft operations.  That will put about 50 hourly and salaried employees out of work.  Big 3 executives were criticized for flying to Washington DC last month in corporate jets. 

General Motors says if it doesn't receive government assistance "the company will default in the near term, very likely precipitating a total collapse of the domestic industry and its extensive supply chain, with a ripple effect that will have severe, long-term consequences to the U.S. economy."  

The reports discusses bankruptcy which has been suggested by some U.S. lawmakers and economists. 

"The plain fact is bankruptcy of an auto company is markedly different and much riskier than that of a steel company or an airline, with the potential for: lengthy delays, given the number of stakeholders; significant administrative costs; the very real risk of the lack of funding while in bankruptcy; and the stigma attached to our products in the eyes of consumers," the plan says. 

Ford released its turnaround plan earlier Tuesday.  Click here to read more on the Ford turnaround plan.