Paulson says mulling $140-150 billion stimulus plan

WASHINGTON (Reuters) - Treasury Secretary Henry Paulson said on Friday that the government was considering a $140 billion to $150 billion stimulus package, and swift action was needed to safeguard the economy from a downturn.

"While I am confident in our long-term economic strength, the short-term risks are clearly to the downside, and the potential cost of not acting has become too high," Paulson said at a news conference.

He declined to give specifics on the stimulus package under discussion, but said a significant part would be in the form of tax relief for consumers.

(Reporting by Emily Kaiser; Editing by Tom Hals)