US House Speaker Kevin McCarthy announced today (Tuesday) that House Republicans will launch an impeachment inquiry against US President Joe Biden over “allegations of abuse of power, obstruction and corruption" in his involvement with the foreign business dealings of his son Hunter Biden,

“House Republicans have uncovered serious and credible allegations into President Biden’s conduct. Taken together, these allegations paint a picture of a culture of corruption,” McCarthy (R-Calif.) said.

“They warrant further investigation by the House of Representatives. That’s why today I am directing our House committees to open a formal impeachment inquiry into President Joe Biden,” he added.

The inquiry surrounds Hunder Biden's business dealings in Ukraine and China while Biden was Vice President during the Obama Administration, as well as efforts to obstruct investigations into the matter in the years since.

House Oversight Committee chairman James Comer (R-Ky.) and Judiciary Committee chairman Jim Jordan (R-Ohio) will give a presentation on Thursday to House Republicans in which they will present the case for the impeachment inquiry.

McCarthy did not specify when he would convene a House vote to formally launch the inquiry.

The White House dismissed the announcement.

“Speaker McCarthy shouldn’t cave to the extreme, far-right members who are threatening to shut down the government unless they get a baseless, evidence-free impeachment of President Biden. The consequences for the American people are too serious,” said White House spokesman Ian Sams.