Minnesota Rep. Dean Phillips, a freshman Democrat, says the evidence found in a transcript of President Donald Trump's call with the president of Ukraine released Wednesday left him no choice but to support an impeachment inquiry.

"To be forthright, it's damning. It confirms what we have suspected over the last couple days, in writing and in the President’s own words," Phillips told ABC News Political Director Rick Klein on "Powerhouse Politics" podcast. “He has betrayed the public trust, betrayed American interests, betrayed his oath of office and it requires action."

The transcript shows the Ukraine's president, Volodymyr Zelenskiy, expressing an interest in buying American missiles. It also highlighted that while hundreds of millions of dollars were held in the balance, President Trump asked Zelenskiy for a favor. Phillips said this information is what convinced him to push further and officially endorse the impeachment inquiry announced Tuesday by House Speaker Nancy Pelosi.

"The president of the United States, above all else, should recognize that there's always an implicit quid pro quo when a favor is asked," he said.

During Phillips' two hour flight back to Washington, D.C., he said he read the transcript and officially made up his mind to join the growing list of Democrats in support of impeachment.

"My initial reaction is that I had started to cross the threshold. That was clear in black and white, and it corroborated with evidence that is now sitting in front of me, and at this very moment, requires immediate action," he said.

In the 2018 congressional election, Phillips ran on a platform dedicated to cleaning up corruption. He told ABC News that he does not want to contribute to the deep divide in this country or his district.

"I come from a district that is engaged, thoughtful, both Republicans, Democrats, Independents and Libertarians. And they recognize that the Constitution and the rule of law transcends everything and everybody, including me," Phillips said. "My belief is that in light of this new evidence, and I believe more is yet to come, that most Americans will understand the gravity of these practiced allegations. And recognize that we have a constitutional duty to do what's right."

Phillips is in support of a speedy impeachment process.

"I believe it can, and should be done much more expeditiously than even the end of the year," he said on the podcast. "I, for one, would be disappointed if, in light of what was released this morning, if it takes longer than the end of the year."

When asked about potential repercussions from supporting impeachment, he said he was willing to lose his seat in Congress if it meant doing the right thing.

"I can tell you, having had conversations with just about every one of my colleagues, each and every one of us would be willing to lose our jobs in favor of upholding our oath to office and protecting and preserving our Constitution," Phillips said. "That's what we're here for and that's why we ran."

Powerhouse Politics podcast is a weekly program that posts every Wednesday and includes headliner interviews and in-depth looks at the people and events shaping U.S. politics. Powerhouse Politics podcast is hosted by ABC News Chief White House Correspondent Jonathan Karl and ABC News Political Director Rick Klein.