Phillips told two fellow House members that he was going to take part in the presidential race, the newspaper reported on Thursday. Another colleague of the Minnesota Democrat said he was "clearly considering" the nomination, but demurred at first when asked about the move.
The lawmaker has frequently called on Biden to face an intra-party challenger, citing the president's age and saying that he has a "sense that the country is begging for alternatives," the report said.
Phillips has recently started to take steps toward launching a presidential bid, including calling New Hampshire Democratic Party Chairman Ray Buckley last week and several potential staffers about working in New Hampshire, Politico said.
The politician also reportedly approached former Republican consultant Steve Schmidt and Tennessee-based Democratic consultant Bill Fletcher.
The Minnesota Democrat is able to fund a major part of his possible presidential campaign as a co-founder of the gelato and sorbet company Talenti Gelato, the report added.
Currently, former US Preamericsident Donald Trump leads Biden 45% to 41% in a 2024 rematch with more support from independent voters, a poll by The Messenger revealed last week, while both Trump and Biden maintain the support of the majority of their parties' voters, receiving 86% and 81% support, respectively. Trump is followed by Florida Governor Ron DeSantis at 14% and businessman Vivek Ramaswamy at 7%, according to the poll.
The next US presidential election will take place in November 2024. Biden has already announced his 2024 candidacy.