Industry-specific contribution bans such as New Jersey’s directly burden associational rights and are subject to exacting scrutiny, which requires narrow tailoring. The district court erred in applying intermediate scrutiny. The ban is not narrowly tailored to New Jersey’s stated anti-corruption interest. A more reasonable and narrowly tailored alternative would apply the same contribution limits to banks as New Jersey already applies to other corporations and labor unions.
Institute for Free Speech Amicus Brief, United States Third Circuit Court of Appeals (November 23, 2021)
Opinion, United States Third Circuit Court of Appeals (September 28, 2022)