A jobs Bill to reduce the soaring US unemployment rate could cost between $75 and $150 billion, a leading congressional Democrat said.

"One hundred billion, 150 billion, 75 billion - those are all figures that are being talked about, depending on what the component parts are," said House Majority Leader Steny Hoyer, who said it is imperative that Congress tackle a jobs Bill to help the millions of Americans unemployed due to the recession.

"We need to do the jobs Bill right. And we need to do it soon. But doing it within the next 10 days is not necessarily essential if we do it certainly within the next 30 to 40 days," Hoyer said. President Barack Obama has vowed to work tirelessly to get unemployed Americans back to work with the jobless rate at 10 per cent, and said some unused federal bailout cash could be used to create new jobs.

Hoyer said one impediment to getting a jobs Bill through Congress however is that lawmakers are bogged down in trying to pass a health care Bill, the Obama administration's top priority.

He said the Bill might be financed from untapped Troubled Asset Relief Program (TARP) money, and could fund infrastructure investments like water projects, rapid transit, high-speed rail, and expanding internet access and helping small businesses.

"We're trying to figure out what can be paid for," he added, including "what TARP money will be available. We want to pay for what we do," Hoyer said.

According to a report to Congress in October, $317 billion remains in the TARP fund, including $70 billion repaid by financial institutions bailed out under the programme.