Republican House Speaker Kevin McCarthy announced Tuesday the opening of an official impeachment inquiry into President Biden and the corrupt business dealings of his son, Hunter Biden.

Announcing the probe outside his office on Capitol Hill, McCarthy said, “These are allegations of abuse of power, obstruction and corruption. 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.”

By launching the probe without a vote in the House, McCarthy accepted demands by the fascist supporters of Donald Trump in the House Freedom Caucus to unilaterally begin the impeachment of Biden or face a move to oust him as speaker.

The members of the Freedom Caucus—such as Jim Jordan of Ohio, Matt Gaetz of Florida and Lauren Boebert of Colorado—have seized upon the corrupt practices of the Biden family to advance their extreme right-wing political agenda.

The impeachment campaign is also aimed at generating fuel for Donald Trump and his fascist campaign for the Republican Party nomination in the 2024 presidential elections.

That Hunter Biden engaged in corrupt activities and traded on the role of his father when Joe Biden was US vice president, gaining lucrative business agreements worth tens of millions of dollars, is well documented.

Hunter Biden’s corrupt foreign business dealings included his role as a founding board member of the Chinese private equity firm Bohai Harvest RST (BHR), which purchased a cobalt mine in the Democratic Republic of Congo in 2016 for $3.8 billion.

Additionally, the younger Biden has admitted to committing multiple federal offenses. In June, a plea deal had been worked out with federal prosecutors in which he agreed to plead guilty to “willful failure to pay federal income tax” and to enter a pretrial diversion agreement on one count of illegal possession of a weapon.

However, the plea deal was blocked unexpectedly in July by a Delaware judge, setting the stage for a resumption of the campaign of the Trump-supporting Freedom Caucus for an impeachment inquiry based on Hunter Biden’s criminal activities.

In his Tuesday announcement, McCarthy claimed that 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.”

Essentially acknowledging that no hard evidence has been produced so far that Joe Biden personally profited from or was directly involved in his son’s activities, McCarthy said Republicans “are committed to getting the answers for the American public.”

Responding to the impeachment, White House spokesman Ian Sams said the GOP has been investigating Biden for nine months and “they’ve turned up no evidence of wrongdoing.” Sams added, “His own GOP members have said so. He (McCarthy) vowed to hold a vote to open impeachment, now he flip-flopped because he doesn’t have support.”

Republicans who are not supporting the impeachment drive are in favor of an investigation into the Bidens without going straight to impeachment. For example, right-wing Republican Rep. Ken Buck of Colorado said, “I still want to look at the evidence. I’m going to get a briefing later in the week on what evidence links President—at the time vice president—Joe Biden to Hunter Biden’s activities. I haven’t seen that link yet, and so I am reluctant to agree with Speaker McCarthy.”

The launching of an impeachment inquiry into President Biden deepens the crisis of the entire US political system. It intersects with the conflict in Washington D.C. over the budget and the discussions between Biden and the Republicans over a continuing resolution which must be passed by September 30 to prevent a government shutdown.

Meanwhile, Donald Trump is working behind the scenes to launch incendiary measures against his Republican challengers and stoke the impeachment drive against Biden as revenge for being impeached twice, as well as the numerous indictments he is facing in US and state courts prior to the 2024 presidential election.

The impeachment crisis highlights significant conflicts building up within the capitalist ruling establishment. While the Pentagon and financial elite are demanding uninterrupted government funding for war and debt repayment, the relatively small group of Freedom Caucus Republicans is threatening to force a shutdown if a continuing resolution does not include budget cuts and anti-immigrant measures at the southern border.