House Speaker Kevin McCarthy (R-Calif.) is moving forward with an impeachment inquiry into President Joe Biden.

In a tweet on X, formerly Twitter, on Tuesday, McCarthy wrote, “I am directing our House committees to open a formal impeachment inquiry into President Joe Biden. Over the past several months, House Republicans have uncovered serious and credible allegations into President Biden’s conduct—a culture of corruption.”

“Now here’s what we know so far. 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 son’s and his son’s business partners,” he said in a brief statement.

He added, “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.”

Finally, McCarthy insisted, “These are allegations of abuse of power, obstruction, and corruption. And they warrant further investigation by the House of Representatives.”

The press conference came hours after Punchbowl News reported Tuesday that the top House Republican planned “to tell House Republicans in a closed meeting this week that launching an impeachment inquiry into President Joe Biden is the ‘logical next step’ in the GOP’s probes of the president and his son, Hunter Biden.”

“McCarthy and the House Republican leadership scheduled a closed-door session for Thursday morning so that members could get an update on the investigations led by House Judiciary Committee Chair Jim Jordan (R-Ohio) and House Oversight Committee Chair Jamie Comer (R-Ky.),” it added.

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The outlet also explained McCarthy planned “to say that the two chairs have uncovered enough information that necessitates the House formalizing the impeachment inquiry in order to obtain the Bidens’ bank records and other documents.”

Punchbowl’s Jake Sherman tweeted shortly before the press conference McCarthy would launch the inquiry without a House vote. He added, “would’ve been a tough vote for House Rs.”

In anticipation of the Republicans’ move, the White House created a war room featuring two dozen lawyers, legislative aides, and communications staffers to respond to an impeachment inquiry.

A White House staffer told NBC News that Republicans have “no evidence whatsoever” for their allegations against Biden.