GOP panels accuse Biden of "egregious" conduct in impeachment inquiry report

State of play: The report from the House Oversight, Judiciary and Ways and Means committees was released the day Biden is set to address the Democratic National Convention.

• The White House did not immediately respond to Axios' request for comment regarding the report on Monday.

Driving the news: The committees allege in the report that Biden engaged in abuse of power and obstruction to aid his family's business dealings. However, the report does not provide direct proof that Biden engaged in any corrupt quid pro quo on behalf of his family.

• "The totality of the corrupt conduct uncovered by the Committees is egregious," the report stated.
• Biden and his son, Hunter, have both denied that the president was involved in any dealings.

Catch up quick: Then-House Speaker Kevin McCarthy launched the impeachment inquiry into Biden last September.

• House Republicans probed the president's involvement with Hunter's business dealings in an effort to show that he broke the law or benefited financially from his son's dealings. The White House condemned the probe from the start.
• As the investigation progressed, it became clear that Republicans lacked the votes to impeach Biden. The investigation faced mounting GOP skepticism as it failed to uncover evidence of impeachment-worthy misconduct.
• The president declined an invite in April to testify at an inquiry hearing.

Go deeper: House Republican says Biden probe "probably nearing the conclusion"