Rep. Eric Swalwell Resigns from U.S. House Amid Misconduct Allegations

Representative Eric Swalwell announced his resignation from the U.S. House of Representatives on Monday, citing a need to take responsibility for past mistakes in judgment. The announcement was made via a statement on his X account, where he expressed apology to his family, staff, and constituents. The resignation follows reports detailing allegations of sexual assault and misconduct. A former congressional aide alleged that Swalwell sexually assaulted her on two occasions while she was too intoxicated to consent. Additionally, other reports indicated allegations of unsolicited explicit messages and nude photos. Swalwell has denied the most serious of these claims. Political pressure mounted over the weekend, with colleagues from both sides of the aisle calling for his removal. Rep. Anna Paulina Luna of Florida and Rep. Teresa Leger Fernández of New Mexico had indicated they would support or introduce resolutions for his expulsion. Swalwell stated that while he disagreed with the lack of due process in expulsion efforts, he could not allow the distractions to hinder his duties to his constituents. In a separate but concurrent development, Rep. Tony Gonzales of Texas announced his retirement from office. Gonzales admitted to an affair with a staffer and stated he would file his retirement papers upon the House's return on Tuesday. These leadership changes within the House are viewed as isolated political events and are not expected to influence legislative trajectories or broader market sentiment.