Fox Business Anchor Looks at Questionable Charges to Eric Swalwell’s Campaign

Fox Business anchor Elizabeth MacDonald reports that new financial disclosures from Eric Swalwell's campaign show some "dubious expenses" charged. We reported last April that Swalwell had spent $42,000 of campaign funds on childcare in the five months since the election. As Chuck Ross explained, candidates can spend campaign money on childcare, but only for campaign-related expenses. Those childcare costs have been adding up over the past year, as have some other expenses.

NEWS Eric Swalwell’s new and prior financial disclosures show a mix of questionable charges to his campaign, and dubious tax and cash management strategies amid signs of a cash crunch worsened by overspending on a high-flying lifestyle. Swalwell runs a high-earning $461K…
— Elizabeth MacDonald (@LizMacDonaldFOX) April 4, 2026

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… two-income household, but still charged dubious expenses to his campaign, made chronic and risky delays in paying income taxes, and made precarious withdrawals from retirement accounts.
He charged more than $244,000 in childcare expenses—tuition, daycare—to his campaign from 2019 to 2025, his disclosures show and the Sacramento Bee found. That’s the highest in the House, with nearly $60,000 in 2022 alone.
Here’s the possible ethics problem. They are permitted under FEC law only if the charges are incurred in years the candidate is running for office or performing campaign duties.
But in three of those six years he was not running for office. He charged $20K in childcare costs just days after his 2024 re-election. These FEC laws are notably lax (House members rarely charge these costs to their campaigns, reportedly only 68 during that time frame).
The reporting has been out there that Swalwell has also charged luxury items to his campaign, such as stays at high-end hotels (including a well-known luxury hotel in Dubai), a $17K yacht rental, and costly airfare and travel totaling tens of thousands of dollars. He charged $360K for car and limo services paid to a campaign staffer since 2021, reports show, and he charged for thousands of dollars spent on restaurants.
Swalwell’s campaign spent nearly $90,000 on travel in just the last quarter of 2023.
His household has large student loan debt, up to $100K, $15K-50K credit card balances, and a $1M-5M mortgage.
One of the biggest red flags his financial world is out of control is he reduced or zeroed out his tax withholding on his congressional salary in some years, effectively delaying paying federal taxes and incurring penalties.
Also he and his wife pulled significant cash, more than $145,000, from retirement accounts over several years.

One answer:

While he enjoyed the protection of Nancy Pelosi, no one would run against him in Calif so he could do these kinds of things and get away with it.

Same -- not re Pelosi -- for Newsom.

Midwit politicians do all kinds of stupid things when there is no… https://t.co/mkAM50rk2X
— Shipwreckedcrew (@shipwreckedcrew) April 4, 2026

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… accountability, and then think that "accountability" isn't really a thing.
Newsom is learning how wrong he was now.
Every skeleton is going to tumble out of his closet over the next 18 months.

Where is the house on which he holds the huge mortgage?
— RJ Bub (@BubRj) April 4, 2026

That's an excellent question. He reportedly rents a room in a house in California to establish residency.

That is someone living beyond his means, which is a red flag for potential fraud.
— GrilledTomatoes (@TomatoesGrilled) April 4, 2026

He’s figuring he’ll be placed in as governor and make it up from the lucrative theft which Gavin Newsom has enjoyed. Hell, Newsom probably even advised him as to how much he could steal when that time comes.
— Nick Campos (@DrNickCampos) April 4, 2026

He also thought he would be elected president in 2020.

Fitting, Swalwell and the state of California are wastrels, pointing to their profligate use of campaign funds and public tax dollars on luxury travel and stalled infrastructure projects.
— LC101 (@LOUISECICCONE1) April 4, 2026

If I were defrauding the US government and financial institutions, I'd be keeping a very low profile as a congressman. And I certainly wouldn't be running for governor. The narcissism runs deep with this one.
— Kramerama (@SconeDawgg) April 4, 2026