Eric Swalwell raids retirement, delays tax payments as he runs for California governor
By Titus Wu
Published on April 2, 2026.
Democratic Congressman Eric Swalwell is running for California's governor, where he is polling as high as 17 percent. Despite earning a congressional salary of about $184,000 in 2024 and owning a $1.2 million home in Washington, DC, and a California home, he has been using his retirement savings and tax payments as he campaigns for governor. Tax returns reveal that he reduced his federal tax bill from $32,000 to just $2,580 in 2021 to $2.580 in 2022, before withholding nothing in 2023 to increase his take-home pay. The use of campaign funds for childcare has been scrutinized under federal election rules. Despite his six-figure earnings and carrying significant personal debt, he is described as one of the least wealthy members of Congress. His campaign denies any wrongdoing and accuses rivals Tom Steyer of using dark money to aid Democrats.
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