US President Joe Biden could be facing a possible impeachment inquiry over his family’s business dealings.

US House Speaker Kevin McCarthy has said he is directing committees to open a formal investigation into what he called a “culture of corruption” around the First Family.

He said over the past few months “House Republicans have uncovered serious and credible allegations into President Biden’s conduct”.

Mr McCarthy is planning to convene lawmakers behind closed doors multiple times this week, including for a meeting to discuss a potential impeachment.

“I am directing our House committees to open a formal impeachment inquiry into President Joe Biden,” McCarthy told reporters.

“We will go where the evidence takes us.”

Republicans, who now narrowly control the House, have accused Mr Biden of profiting while he served as vice president from 2009 to 2017 from his son Hunter Biden’s foreign business ventures. They have not yet presented substantiation.

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Speaker McCarthy said lawmakers on several committees will begin gathering evidence of possible financial misconduct.

A former business associate of Hunter Biden told an House hearing that Hunter Biden sold the “illusion” of access to power while his father was vice president, according to a transcript released last month.

The White House has said there is no basis for an investigation and Mr Biden has mocked Republicans over a possible impeachment.

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