Sept. 19 (Bloomberg) -- Democrats in Congress said the Bush administration's financial-rescue plan should include economic stimulus and mortgage help for beleaguered homeowners while a Republican said the potential cost to taxpayers must be weighed.

``Congress is not going to rubber stamp something,'' said Richard Shelby, the top Republican on the Senate Banking Committee.

``This could be the biggest bailout in the history of the country and could ultimately cost $500 billion to $1 trillion,'' he said in an interview on Bloomberg Television. ``You have to ask, who is paying for this? I would submit to you it is always the taxpayers.''

Treasury Secretary Henry Paulson may deliver to Capitol Hill as soon as today a plan to cleanse financial institutions of bad debt. The comments by lawmakers indicate that even as they pledge quick action, the legislation may not escape partisan wrangling.

Representative Scott Garrett, a New Jersey Republican, said trying to add too many provisions may cripple the measure's progress.

``If they want to get this done, it has to be a stripped- down bill,'' he said.

Lawmakers said they expect the Democratic-controlled Congress to act on the legislation next week or stay in session past the Sept. 26 planned adjournment date to get it done.

Paulson and Federal Reserve Chairman Ben Bernanke will testify next Tuesday and Wednesday to the Senate Banking and House Financial Services committees about the bailout plan.

`Prepared to Stay'

``We're prepared to stay as long into October as we need to stay,'' said Republican Representative Roy Blunt of Missouri.

``The paramount thing is to get this done, but to get this done in an inclusive way,'' said New York Senator Charles Schumer.

Representative Barney Frank, the chairman of the House Financial Services Committee, said the measure should include a second stimulus package with funding for infrastructure. It will not contain rebates for U.S. families, the Massachusetts Democrat said.

Senate Banking Committee Chairman Christopher Dodd, a Connecticut Democrat, said lawmakers must be informed of the details immediately so ``we're not confronted with a fait accompli Monday or Tuesday.''

President George W. Bush, in comments at the White House, said the plan ``will require us to put a significant amount of taxpayer dollars on the line. This action does entail risk. The risk of not acting would be far higher.''

More Protection

Senate Democrats said they will demand more protection against home foreclosures as part of the any plan to remove distressed mortgage debt from the books of financial institutions.

``To avoid a deepening crisis and turn this economy around, the proposal must not only address the broader, underlying structural issues in the financial markets, but also protect taxpayers and strengthen the middle class,'' said Senate Majority Leader Harry Reid, a Nevada Democrat. ``We must not forget Main Street as we work to address the crisis on Wall Street.''

In July, Congress passed a mortgage-relief program to help homeowners at risk of foreclosure. That program, which begins Oct. 1 and will help about 400,000 home-loan borrowers, isn't enough, Reid and others said.

``This is the moment we can get legislation passed without a doubt'' so ``we would be derelict if we didn't push very hard dealing with provisions on foreclosure problems,'' said Pennsylania Democrat Bob Casey, a member of the Senate Banking Committee.

Some Republicans expressed opposition to the strategy of intervening in the market. Senator Jim Bunning, a Kentucky Republican, declared the free market ``dead in America.''

Treasury's plan will ``institute socialism in America,'' Bunning said.

To contact the reporter on this story: Lorraine Woellert in Washington at lwoellert@bloomberg.net

Last Updated: September 19, 2008 15:24 EDT