WASHINGTON — House Republicans have released their initial impeachment inquiry report on President Joe Biden, alleging an abuse of power and obstruction of justice in the financial dealings of his son Hunter Biden and family associates.

The nearly yearlong investigation by Republicans stops short of alleging any criminal wrongdoing by the president. Instead, the almost 300-page report out Monday, the opening day of the Democratic National Convention, covers familiar ground, asserting the Biden family traded on its “brand” in business ventures in corrupt ways that rise to the Constitution’s high bar for impeachment.

With Biden no longer running for reelection, next steps are highly uncertain.

House Republicans have not had support from their own ranks to actually impeach the president, and removal by the Senate is even further afield. Many Republicans prefer to focus attention on the Democratic Party’s presumptive presidential nominee Vice President Kamala Harris, with some probes getting underway.

The White House has dismissed the House impeachment inquiry as a “stunt” and encouraged House Republicans to “move on.”

“The totality of the corrupt conduct uncovered by the Committees is egregious,” wrote the House Oversight and Accountability, Judiciary and Ways & Means panels leading the inquiry.

The report said the Constitution’s “remedy for a President’s flagrant abuse of office is clear: impeachment by the House of Representatives and removal by the Senate.”

Republicans have spent the better part of their time in the House majority with a hyper focus on Biden and his family’s businesses, encouraged by Donald Trump as the twice impeached and indicted former president makes a comeback bid for the White House.

The impeachment inquiry has been a cornerstone of the House GOP’s effort, launched by former Speaker Kevin McCarthy shortly before he was booted from leadership and formalized in December under new Speaker Mike Johnson. Republicans are investigating many aspects of Biden family finances going back to 2009 when he was vice president to Barack Obama.

In a statement Monday, Johnson was non-committal on what the House will do with the findings. “We encourage all Americans to read this report,” he said.

Through bank records, interviews from some 30 witnesses, whistleblower accounts and millions of documents, House Republicans allege a years-long practice by Hunter Biden and his associates to solicit foreign business deals using the family’s proximity to power in Washington.

Much of the focus of the report is not on Biden’s time as president, but on the years when the Biden family was in turmoil after the 2015 death of his oldest son, Beau, and as the vice president was bowing out of elected office, declining to run for president in 2016.

All told, the House Republicans allege the Biden family and its associates received some $27 million in business payments from partners or clients in Russia, China and other countries.

The report said it is “inconceivable” that President Biden did not understand what was going on.

“President Biden participated in a conspiracy to monetize his office of public trust to enrich his family,” the report claims.

The report released Monday makes more than 20 mentions of the “Biden-Harris administration,” while previous releases from the committees investigating Biden typically only made direct references to him.