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Hello @Scott Hooten
Wowza should be able to handle bitrates listed in the encoding best practices cheat sheet:
https://www.wowza.com/docs/how-to-encode-source-video-for-wowza-streaming-cloud#samples
In the cheat sheet it does not have a 160p, although 300 Kbps should produce an acceptable stream.
This will also come down to your available network bandwidth on how much bits you can send from a broadcaster.
I would also recommend reviewing our networking tips in our sizing your hardware article:
https://www.wowza.com/blog/4-tips-for-sizing-streaming-server-hardware
-JasonT