Washington - On Tuesday, Speaker Kevin McCarthy made an announcement stating that he is instructing the U.S. House to initiate an impeachment inquiry against President Joe Biden concerning his family's business dealings. This marks the commencement of historic proceedings in anticipation of the 2024 election.

McCarthy asserted that the ongoing House investigations have revealed what he describes as a "culture of corruption" surrounding the Biden family. Republicans have been examining the business activities of President Biden's son, Hunter Biden, which occurred before the Democratic president assumed office.

McCarthy, a Republican from California, stated at the Capitol that these allegations include abuse of power, obstruction, and corruption, warranting further examination by the House of Representatives. He directed the House, led by the Oversight Committee, to formally initiate an impeachment inquiry.

In response, the White House criticized this move, characterizing it as "extreme politics at its worst" during a presidential campaign. White House spokesman Ian Sams emphasized that House Republicans have been investigating the president for nine months without finding evidence of wrongdoing.

Kevin McCarthy faces mounting pressure from his party's right-wing to take action against Biden to secure his leadership position. Simultaneously, he is grappling with the challenge of passing essential legislation to prevent a government shutdown by the end of the month.

McCarthy has initiated the inquiry without a House vote, and it remains uncertain if he will garner enough support from the slim GOP majority. Some lawmakers argue that the evidence presented thus far does not meet the constitutional standard of "high crimes and misdemeanors."

Critics point out McCarthy's previous statements when he insisted that a speaker initiating an impeachment inquiry unilaterally lacked legitimacy, suggesting that he has changed his stance due to a lack of support.

This inquiry represents a preliminary step toward impeachment, a process that was previously infrequent. McCarthy outlined potential charges, aiming to shift attention away from former President Donald Trump's legal challenges and cast a negative spotlight on President Biden, who is now the Republican front-runner for the 2024 election.

The Oversight Committee Chairman James Comer will lead the inquiry, collaborating with Judiciary Committee Chairman Jim Jordan and Ways & Means Chairman Jason Smith. They will brief the Senate on their efforts.

Senate Republican leader Mitch McConnell has cautioned House Republicans against this endeavor but stated that Speaker McCarthy does not need Senate advice.

House Democratic Leader Hakeem Jeffries characterized the inquiry as "illegitimate" and vowed that Democrats would defend President Biden until the end, emphasizing that there is no evidence of wrongdoing.

McCarthy faces a political dilemma as he strives to appease conservative lawmakers within his party while also securing his own position. This situation becomes even more complex as the government faces the possibility of a shutdown at the end of the fiscal year on September 30.

Shortly after McCarthy's announcement, Rep. Matt Gaetz criticized the inquiry as insufficient and renewed the threat of ousting the speaker, advocating for a faster pace.

The White House maintains that President Biden was not involved in his son's business dealings and is actively challenging what they view as baseless allegations ahead of the 2024 election, as Republicans attempt to draw parallels with Trump.

While House Republicans investigate Hunter Biden's business activities, they have not yet provided concrete evidence linking them to the president. They have highlighted a few instances when Joe Biden, while serving as Vice President under Barack Obama, interacted with his son in the context of business meetings.

An impeachment inquiry would lend more weight to the House investigation, particularly as the Oversight Committee seeks access to financial records related to the Biden family.

Republicans argue that the Justice Department has not thoroughly examined the allegations against Hunter Biden and assert that he received preferential treatment in a plea deal that recently fell through. The Department of Justice has appointed a special prosecutor for this investigation.

McCarthy stated that they will follow the evidence wherever it leads. Chairman Comer, from Kentucky, is delving into the Biden family's finances and is expected to request Hunter Biden's banking records as they trace the flow of money.

As the government shutdown deadline approaches, conservative members of McCarthy's majority are pushing for spending cuts. The hard-right faction is unwilling to approve the spending levels negotiated by the speaker and President Biden earlier in the year. McCarthy is proposing a 30-day stopgap measure to extend government funding until November 1, but conservatives are opposing this continuing resolution as they pursue budget reductions.