WASHINGTON, US - CONGRESS could return later this year for a lame duck session later to consider a new multi-billion dollar stimulus package to help 'rebuild America,' Speaker of the House Nancy Pelosi said on Monday.

At a news conference at the US Capitol following an economic forum held by congressional Democrats and economic advisers, Mrs Pelosi said House committees would begin a series of hearings to explore a possible a second stimulus package worth around US$150 billion (S$219 billion).

Asked directly whether she would commit to calling a 'lame duck' session - one held after the November 4 election, but before the new Congress is sworn in January - Mrs Pelosi said: 'We'll have the hearings and see what the hearings yield.' She said Congress must 'act expeditiously, but not hastily,' to avert further financial crises in the wake of weeks of turmoil in global markets.

Mrs Pelosi, the top lawmaker in the House, added that if Congress does not rally behind a stimulus package to spur a recovery effort, 'we will be losing jobs'. The package, Mrs Pelosi said, would include new spending on infrastructure, expansion of food stamps and unemployment insurance, and a focus on health care aid, in the form of programs like Medicaid, for children and seniors.

Over the weekend, Representative Barney Frank, chairman of the House Financial Services Committee, said he supported Congress passing a stimulus package.

Speaking on ABC television on Sunday, Mr Frank said lawmakers should 'give the middle class and the average citizen the same kind of relief that we try to give to the financial sector,' referring to the recent US$700 billion Wall Street bailout.

Republican Roy Blunt, appearing on the Sunday talk show with Mr Frank, said he 'certainly will work on a stimulus package that makes sense'. But Mr Blunt, the House Minority Whip, added that a package shouldn't be 'an excuse to do what Democrats have wanted to do from day one of this Congress, which is a huge public works plan'. Congress, Mr Blunt said, shouldn't be 'bailing out states who spent a lot more money than they should have'.

House Republicans on Monday objected to any new spending measures in a new stimulus drafted by Democrats.

In a letter to Mrs Pelosi, top Republican lawmaker John Boehner described the package as 'an irresponsible, business-as-usual approach that has earned this Congress the lowest approval ratings ever recorded'.

Mr Boehner wrote: 'Nothing being discussed will ease the uncompetitive nature of our nation's tax rates.' 'Nothing being discussed will bring a single dollar of private capital into our markets, which would help stabilise and restore American families' savings and retirement accounts.' 'And nothing being discussed will help small businesses compete and thrive.'

Earlier this year Congress passed and President George W. Bush signed into law a US$168 billion stimulus package.

The package, handed out in checks to taxpayers, was credited with spurring short-term economic growth, before the market's spectacular plunges in recent weeks. -- AFP