Kevin McCarthy Launches Formal Impeachment Inquiry Against Joe Biden

Through our investigations, we have found that President Biden did lie to the American people about his own knowledge of his family's foreign business dealings. Eyewitnesses have testified that the president joined on multiple phone calls and had multiple interactions — dinners resulted in cars and millions of dollars into his sons and his son's business partners.

We know that bank records show that nearly $20 million in payments were directed to the Biden family members and associates through various shell companies. The Treasury Department alone has more than 150 transactions involving the Biden family and other business associates that were flagged as suspicious activity by U.S. Banks. Even a trusted FBI informant has alleged a bribe to the Biden family.

Biden used his official office to coordinate with Hunter Biden's business partners about Hunter's role in Burisma, a Ukrainian energy company. Finally, despite these serious allegations, it appears that the president's family has been offered special treatment by Biden's own administration. Treatment that not otherwise would have received if they were not related to the President.

These are allegations of abuse of power, obstruction and corruption. And they warrant further investigation by the House of Representatives. That's why today I am directing our House Committee to open a formal, impeachment inquiry into President Joe Biden. This logical next step will give our committees the full power to gather all the facts and answers for the American public.

That's exactly what we want to know the answers. I believe the President would want to answer these questions and allegations as well. This effort will be led by Chairman James Comer at the Committee on Oversight in coordination with Chairman Jim Jordan for Judiciary Committee and Chairman Jason Smith on Ways and Means.

I do not make this decision lightly. And regardless of your party or who you voted for, these facts should concern all Americans. The American people deserve to know that the public offices are not for sale and that the federal government is not being used to cover up the actions of a politically associated family.

Now, I would encourage the president and his team to fully cooperate with his investigation and the interests of transparency. We are committed to getting the answers for the American public. Nothing more, nothing less. We will go wherever the evidence takes us. Thank you.