House Speaker Kevin McCarthy has announced he is directing congressional Republicans to open an impeachment investigation into President Joe Biden.

McCarthy, a Republican from California, announced he would direct the House Oversight Committee to open a formal impeachment inquiry into the president, who they claim

The allegations stem from a probe into the business deals of Biden’s son, Hunter Biden, from before he took office in January 2021.

According to the speaker, the committee has ‘uncovered serious and credible allegations into President Biden’s conduct.’

Tuesday’s announcement is the first step in bringing impeachment proceedings against President Joe Biden (Picture: SAUL LOEB / AFP)

‘Taken together, these allegations paint a picture of a culture of corruption,’ McCarthy said.

According to McCarthy, the Oversight Committee has evidence that Biden ‘did lie to the American people of his about his own knowledge of his family’s foreign business deals.’

The resulting business deals landed the family ‘cars and millions of dollars,’ the speaker said.

‘Nearly $20million in payments were directed to the Biden family members and associates through various shell companies,’ McCarthy said.

The investigation is the result of a probe into Hunter Biden’s business deals by the House Oversight Committee (Picture: Julia Nikhinson / CNP / Polaris)

He claimed Biden of used his office as then-Vice President to ‘coordinate’ with his son Hunter’s business partner’s at Burisma Holdings, a Ukrainian energy company he served as a board member for between 2014 and 2019.

He also accused members of the Biden family of getting ‘special treatment’ by authorities due to their proximity to the President.

Although he did not name specific family members, he is likely again referring to Hunter Biden, who was offered a plea deal for federal gun charges that critics called ‘sweetheart.’

The deal has since fallen apart, and a special counsel was appointed by the Justice Department to take charge of the investigation.

It is unclear if House Speaker Kevin McCarthy had the votes in his own party to support a formal inquiry (Picture: REUTERS)

‘These are allegations of abuse of power, obstruction and corruption, and they warrant further investigation by the House of Representatives,’ McCarthy said.

The investigation will be lead by Rep James Comer (R-Kentucky) of the Oversight Committee, Rep Jim Jordan (R-Ohio) of the Judiciary Committee, and Rep Jason Smith (R-Missouri) of the Ways and Means Committee.

‘We are committed to getting the answers for the American public,’ McCarthy said. ‘Nothing more, nothing less. We will go wherever the evidence takes us.’

McCarthy announced the investigation without a formal House vote. It is unclear if the speaker had the support of members of his own party.

McCarthy accused Biden of ‘coordinating’ with Hunter Biden’s business partners at Ukrainian energy company Burisma Holdings (Picture: ANDREW CABALLERO-REYNOLDS / AFP)

Republicans hold a slim 222-212 majority in the House, and only five ‘no’ votes would have sunk the effort before it started.

Several House Republicans said they have seen no evidence to warrant an official investigation.

Rep Jamie Raskin (D-Maryland), the highest ranking Democrat on the Oversight Committee, said he saw ‘zero evidence of wrongdoing whatsoever’ during the committee’s hearings.

‘This is a transparent effort to boost Donald Trump’s campaign by establishing a false moral equivalency between Trump — the four time-indicted former president,’ Raskin said.

The announcement also comes as McCarthy faces an insurrection within his own party, after several far-right members of congress threatened to oust him from his position.

On Tuesday afternoon, after McCarthy’s announcement, Rep Matt Gaetz (R-Florida) told the speaker he was ‘out of compliance with the agreement that allowed you to assume this role.’

He called the investigation announcement ‘a baby step’ and insisted ‘we must move faster.’

Gaetz said that he would forward a motion to vacate McCarthy from his position as Speaker of the House ‘every single day in Congress’ if he did not meet his demands.

White House Spokesperson Ian Sams called the investigation ‘extreme politics at its worst.’

‘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,’ Sams said. ‘The consequences for the American people are too serious.’

The president has not commented directly about the investigation as of Tuesday afternoon.

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According to the speaker, the committee has ‘uncovered serious and credible allegations into President Biden’s conduct.’