Australian David Hicks is among the 450 or so detainees in the camp at Guantanamo Bay in Cuba.
Republican senator Lindsey Graham told the Fox News Sunday television program, that Congress may pass the new law as early as September.
"The court is telling the administration go back to the Congress, work with the Congress," Senator Graham said.
"I intend to sit down with the administration ... to come up with a process that holds terrorists accountable, to give them a fair trial, but to make sure that if they did do the things that we're alleging, they're fairly punished," he said.
"Every enemy prisoner, terrorist, is entitled to be tried in a military commission format, not civilian format."
Democrats on board
Democratic senator Jack Reed told Fox News the minority Democrats are likely to co-operate with the Republicans and the White House to pass the legislation enabling detainee trials.
"This has to be a process where we understand and recognise that we have to have a legitimate procedure -- legitimate in the eyes of the court, legitimate in the eyes of the American people, that we can move quickly to try these individuals and do justice," Senator Reed said.
"And I think that's something that will come together in a bipartisan basis, I hope, in a deliberate and quick fashion, and do that."
The court ruled on Thursday the administration of President George W Bush had no authority under US laws and the Geneva Conventions to set up military tribunals without the backing of Congress to try detainees held at a US naval base in Guantanamo Bay, Cuba.
The ruling cast doubt on Mr Bush's claim that he had the presidential power to implement such national security measures since the September 11, 2001 attacks.
It also bolstered congressional claims that they have the power to regulate White House directed programs, from the handling of detainees to the secret surveillance of US citizens.
Geneva Conventions opposed
Senator Graham, himself a former military prosecutor, said Congress holds the power to establish military tribunals.
"The court is saying to the president, 'you can have a military commission, but since it comes from the Uniform Code of Military Justice, a congressional statute, you've got to go back to Congress'."
Republican senator John McCain said on ABC television's This Week program that new legislation for Guantanamo trials would probably fall under the Uniform Code of Military Justice, the military legal system.
"I think that it shouldn't be exactly the same as applied to a member of the military, but it's a good framework. And I don't think that the Supreme Court said it had to be exact."
But Senator Graham said he disagreed with the court's "breathtaking" ruling that Guantanamo prisoners had to be treated fairly based on Article III of the Geneva Conventions, holding that stateless fighters such as members of al-Qaeda don't deserve Geneva protections.
"The question for this country is, should al-Qaeda members who do not sign up to the Geneva Convention, who show disdain for it, who butcher our troops, be given the protections of a treaty they're not part of?" he said.
"My opinion, no. They should be humanely treated, but the Geneva Convention cannot be used in the war on terrorists to give the terrorists an opportunity to basically come at us hard without any restrictions on how we interrogate and prosecute," Senator Graham argued.