Eric Swalwell’s finances show cash crunch, delayed taxes, large child care tabhttps://www.sacbee.com/news/politics-government/capitol-alert/article315242030.htmlRep. Eric Swalwell and his wife consistently brought in an income in the top 5% of Washington, D.C., households from 2021 to 2024 but made cash-raising moves anyway: drawing down retirement accounts, delaying federal tax payments and spending heavily on child care through campaign funds, according to tax returns and campaign finance filings.
The returns show Swalwell, one of several leading candidates for California governor, and his wife, Brittany Swalwell, took home an average income of more than $444,000 during the period. That income would place them among the top 5% of households in Washington, D.C., where the couple owns a $1.2 million home; Swalwell also rents a room in a Livermore house owned by another family, The Sacramento Bee reported last month.
A portion of that income came from the nearly $145,000 the couple withdrew from their retirement accounts from 2020 to 2022. Eric Swalwell also zeroed out withholdings on his congressional salary in 2023 and withheld just $2,580 the year before, effectively delaying payment of his federal taxes in a move that incurred penalties.
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Swalwell also used campaign funds to pay for child care for his three children at a rate far higher than anyone else in the House of Representatives, including nearly $60,000 in 2022 alone. It’s not clear why Swalwell, who built a national brand as one of President Donald Trump’s most vocal critics, made the financial moves to free up cash. House disclosures show Swalwell has owed between $50,000 and $100,000 on student loans for more than a decade; his most recent paperwork shows the family holds between $15,000 and $50,000 in credit card liabilities apiece for Chase and American Express. The loan for the family’s D.C. abode is listed between $1 million and $5 million.
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Still, Swalwell, D-Dublin, got other help with expenses that few other Californians can access. He’s used campaign funds to pay for more than $244,000 in child care expenses from 2019 to 2025 — the highest total in the House, and more than three times the amount spent by the next highest lawmaker. Paying for child care is permitted under federal election rules.
The Sacto Bee is actually fact-checking the poor-mouthing in Swillwell's goobernatorial campaign claims comparing himself to billionaire Tom Steyer. Subtracting what Swillwell & Wife withdrew from their retirement accounts, their average annual income was still ~$300K per year. And alongside, they also dipped, substantially and legally, into House and campaign funds for personal/family expenses. Further, while Swillwell received his JD degree
20 years ago, he still owes $50K-$100K in student loans. All in all, Swillwell's financial wisdom is about as great as his mattress polo wisdom in the early-mid 2010s.
