(Feb. 3) Watch live as House Democratic Caucus Chair Hakeem Jeffries and leadership colleagues speak to reporters following their weekly caucus meeting. President Biden joins by phone to discuss the American Rescue Plan. President Joe Biden told House Democrats on Wednesday that backing anything less than $1,400 stimulus checks would mean starting his presidency with a broken promise, according to participants on a caucus conference call. Biden said he was open to considering tighter eligibility requirements for stimulus checks but signaled he wasn’t willing to reduce the standard of a $1,400 payment outlined in his aid package, the people said. Republican lawmakers have suggested both reducing the amount of the next round of stimulus checks and sending them to a smaller group of Americans. But shrinking the payment means Biden wouldn’t be able to deliver his campaign promise of $2,000 payments to many Americans, a total that includes the $600 Senate Republicans have proposed issuing $1,000 payments for individuals earning up to $40,000 or couples making twice that, and completely phasing out the payments by $50,000 for singles or $100,000 for married couples. Despite those differences, Biden told reporters during an Oval Office meeting with Democrats: “I think we’ll get some Republicans.” Individuals earning up to $75,000 or couples making up to $150,000 were eligible for the full stimulus payments in the previous two rounds of coronavirus relief enacted last year. Above those levels, the payments phased out gradually. Biden also told lawmakers he was more concerned that they would spend too little on a recovery package rather than too much, addressing reservations among some on Capitol Hill who say his proposal is too costly. He added that lawmakers should act quickly on his plan, which also includes billions for vaccine development and distribution along with a minimum wage hike. Some progressive Democrats are seeking even higher payments, arguing that to fulfill his promise to voters, Biden must increase the checks to $2,000 on top of the $600. The White House has pushed back on that idea. Earlier Wednesday, Biden met at the White House with Democratic Senators Chris Coons and Tom Carper of Delaware. Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake