The U.S. House Wednesday night enacted a plan to save the nation's domestic automobile industry, but the legislation still faced a fight in the Senate.

The House effort to funnel $14 billion to General Motors (GM.UL) and Chrysler, both desperate for cash, was passed on a 237-170, The Washington Post reported.

In addition to giving GM and Chrysler the cash they say they need to survive through March 31, the measure also sets terms for Ford Motor Company (NYSE:F)Co., which has said it needs a $9 billion credit line, the Detroit Free Press reported.

GM and Chrysler would have to grant the government an equity stake stake in either company, as well as restrict executive pay and end corporate jet travel, the Free Press said.

Meanwhile, the proposed bailout could be derailed by Senate Republicans opposed to the plan, officials said.

The Post reported the plan backed by the White House and Democrats lacks sufficient Republican support to pass.

Some GOP members say rather than bailing out the Big Three automakers, they preferred to let troubled U.S. automakers reorganize themselves in bankruptcy proceedings.

In response, President George Bush dispatched White House Chief of Staff Joshua Bolten to meet with lawmakers on Capitol Hill.

The bailout legislation would require Bush to name an "auto czar" who would monitor the automakers' progress in their return to private, self-sustaining status, CNN reported

If the companies do not meet financial progress standards, the auto czar would call in the loans. The bill also bars the companies from further federal assistance should they fail to make progress.