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President Biden shot down a question Wednesday regarding his alleged role in his son Hunter Biden and brother James Biden's foreign business dealings, calling the allegations "a bunch of lies."

During a Wednesday press conference at The White House, New York Post reporter Steven Nelson asked Biden if he would explain to Americans ahead of a potential impeachment inquiry why he interacted with "so many" of his son and brother's foreign business associates.

"I'm not going to comment. I did not and it's just a bunch of lies," Biden responded. "They're lies. I did not. They're lies."

Recent polling from The Associated Press found that nearly 70% of Americans, including 40% of Democrats, believe Biden acted unethically or illegally when it came to his family's business interests. House Republican leaders revealed they hope to hold a formal vote next week on a measure that would formally initiate an impeachment inquiry into the president.

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The revelation that Congress may soon consider the impeachment of the president comes shortly after House Oversight Committee Chairman James Comer, R-Ky., released subpoenaed bank records showing an entity owned by Biden's son, Hunter Biden, had made "direct monthly payments to Joe Biden."

Biden returns from Boston trip

President Biden speaks to the media as he returns to the White House, Tuesday, Dec. 5, 2023, from a trip to Boston. (AP Photo/Jacquelyn Martin)

The White House has repeatedly stressed that Biden had no knowledge of his son's business dealings and acted appropriately.

Biden has also maintained that he has "never spoken" to his son about his overseas business dealings.

"You should be looking at Trump," Biden told Fox News' Peter Doocy in September 2019. "Trump's doing this because he knows I'll beat him like a drum… Everybody's looked at it and said there's nothing there. Ask the right question."

"I don't discuss business with my son," Biden said again a month later in October 2019.

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On March 17, Biden denied the reported China-linked payments when asked if he had a reaction to the GOP memo, saying, "That's not true," despite Republicans claiming they have proof.

On Jan. 4, House Oversight Committee Republicans officially launched their investigation into the Biden family's business dealings to determine whether financial interests compromised the president.

Last week, Fox News Digital reported that a bank investigator raised concerns about Hunter Biden's receipt of an additional $5 million wire from a Chinese company in August 2018 to his bank account, Hudson West III.

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Fox News' Thomas Catenacci, Chad Pergram and Brooke Singman contributed to this report.