House Republicans voted unanimously to move forward with a formal impeachment inquiry against President Joe Biden. The move has been referred to as "political revenge" by House Democratic Leader Hakeem Jeffries (D-NY) for the two successful impeachments against former President Donald Trump, especially when no concrete evidence of wrongdoing by President Biden has been found so far.

Democratic Political Strategist James Carville joins Yahoo Finance to discuss Congress' impeachment vote and what it means for the country moving forward.

"There's no prospect that [Republicans are] going to do something," Carville comments on the intent behind the impeachment vote. "I think when they go back home they gotta say 'we did something and we voted to open an impeachment inquiry.' I think that's what's at the core of all of this..."

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Video Transcript

BRAD SMITH: Well, the House has voted to launch a formal impeachment inquiry into President Joe Biden. The resolution passed along party lines, 221 to 212. The three GOP led committees have been investigating the president and his son, Hunter for months. The White House recently stating subpoenas issued as part of the investigation were illegitimate without a formal inquiry. So a formal inquiry was then launched. House Majority Whip, Tom Emmer, made it clear that president won't necessarily be impeached as a result.

So what are lawmakers hoping to gain from this latest political move? Joining us now to discuss is our very own Rick Newman alongside James Carville who is the political strategist and host of the "Politics War Room" podcast. Great to have you both here with us today. James, I'll go to you first. What are they looking to achieve by an impeachment inquiry and proceeding perhaps?

JAMES CARVILLE: Well, they have some dope Congressman from Texas, what they're achieving, he said, Donald J. Trump in 2024, baby. That's about the depth of the reason behind this idiocy. And these people are just not very talented and not very smart. And my own theory is the more they're out there, the better it is for Democrats.

NICK NEWMAN: Hey, James, what is the political calculation here for these Democrats? So it seems like they are trying to distract attention from Donald Trump, who's in these four criminal cases, is there any chance that's going to work?

JAMES CARVILLE: You mean the strategy of the Republicans, right?

NICK NEWMAN: Yes.

JAMES CARVILLE: Yeah. I don't know. I mean, they have to keep-- they have their base and they have to keep feeding that monster. And they don't have-- I don't know. There's absolutely no connection to President Biden to any of this. There hasn't been one single shred of evidence that connects him. So we're going to have a hearing to determine that was Hunter Biden engaged in some questionable activity, gee, what a surprise, knocking me over with a feather.

SEANA SMITH: James, is all of this just about the re-election in 2024? And when you take into account maybe some of the expectations here, what the Republicans are hoping is going to happen as a result of this, is that just totally unrealistic?

JAMES CARVILLE: I think it's about-- they haven't done anything. There's no prospect they're going to do something. And I think when they go back home, they got to say we did something and we voted to open an impeachment inquiry. I think that's what's at the core of all of this. And also, what was repeated with this idiot Congressman said that Donald J. Trump in 2024, baby. I mean, I don't think it's really complicated.