Since 2021, the committee has been probing a range of allegations against Mr Gaetz, a top ally of Donald Trump.
Those allegations including claims that he violated sex trafficking laws, accepted a bribe, and used campaign funds for personal use.
The Florida Republican has consistently denied those claims, and a Justice Department investigation into the congressman’s sex trafficking allegations ended without charges in February.
He responded to the reports on Sunday with a meme posted to his Twitter account.
The drastic nature of their intended punishment for Mr Gaetz underscores the animosity that now defines the House GOP conference.
Now, Mr Gaetz is going for blood as he promises to bring a motion to oust Mr McCarthy as speaker of the House within days.
Some of those Democrats, especially progressives, are likely to demand significant concessions for their vote to save Mr McCarthy’s speakership. »