Swalwell's finances reveal delayed tax payments, highest-spending House members on child care

California governor candidate Democratic Rep. Eric Swalwell's finances show that he delayed paying his federal taxes, and spends the most on child care in the House with campaign funds.

Swalwell and his wife, Brittany, made an average income of more than $444,000 from 2021 to 2024, which included cash-raising moves such as drawing down retirement accounts, delaying federal tax payments, and spending on child care with campaign funds, according to tax returns and campaign finance filings, the Sacramento Bee reported.

The Swalwells' income puts them in the top 5% of households in Washington, D.C., where the couple owns a $1.2 million home, in addition to the congressman renting a room in Livermore, Calif., owned by another family.

The couple withdrew nearly $145,000 from their retirement accounts from 2020 to 2022. In 2023, Swalwell zeroed out withholdings on his congressional salary, and only withheld $2,580 in 2022, effectively delaying payment of his federal taxes, which incurred penalties, 

Swalwell’s congressional salary increased from $161,648 in 2021 to $184,229 in 2024, and he supplemented it with self-employment described in the returns as “Administrative Office Work” from 2022 to 2024, earning up to $32,000. In other disclosures, Swalwell says the additional income came from an LLC linked to Spycraft Entertainment, “a global production company run by former senior intelligence officers from the U.S. and U.K.”

Swalwell's wife, who has a background in the hospitality industry, earned salaries of around $200,000 to $250,000 during that time, with different employers: Evolution Hospitality in 2021, the Swalwell Remedy Group from 2022 to 2024, and Rockbridge Capital from 2023 to 2024.

The congressman also used campaign funds to pay for child care for his three children at a rate far higher than any other representative, including nearly $60,000 in 2022.

Swalwell used campaign funds to pay for more than $244,000 in child care expenses from 2019 to 2025, which is the highest total in the House, and more than three times the amount spent by the next highest lawmaker. Federal election rules permit using campaign funds to pay for child care.

It is unclear why Swalwell made the cash-raising moves, as disclosures show that he has owed between $50,000 and $100,000 on student loans for more than a decade. Swalwell's most recent paperwork shows the family holds between $15,000 and $50,000 in credit card liabilities apiece for Chase and American Express, and the loan for the D.C. home is listed between $1 million and $5 million.

Swalwell's campaign spokesperson, Micah Beasley, told the news outlet that the congressman's tax returns differentiated him from Tom Steyer, a billionaire rival who, along with former Rep. Katie Porter, has polled evenly with Swalwell in the crowded gubernatorial primary. The three Democrats tied at 10% in a California Democratic Party poll released last week, behind Republicans Steve Hilton and Chad Bianco.

“Unlike others in this race, Congressman Eric Swalwell is not a billionaire,” Beasley said. “He is a working parent raising three young children with his wife while serving in public office. Like millions of Californians, they balance mortgage payments, student loans, child care and everyday expenses.”

Beasley added that Swalwell’s tax returns “mirror those of a typical middle-class Californian, in stark contrast to the candidates who have used offshore tax strategies, benefited from investments structured to minimize taxes and have a documented history of incomplete financial disclosures — all while campaigning on making others ‘pay their fair share.’”

Swalwell drew from his official House spending account to reimburse himself for an average of $1,625 in monthly lodging expenses since January 2023, which many Congress members have done since House rules expanded to allow the expenditures.

Since Jan. 1, 2020, Swalwell’s congressional campaign committee spent nearly $25,000 on Uber Eats, which is more than any other Congress member. He was second only to House Majority Leader Steve Scalise in overall Uber spending during that period, paying more than $105,000.