The policies of the Nixon and reagan eras are known as the New Federalism and they have carried over into the Bush and Clinton era. With the election of a conservative Republican-dominated House in 1994 and Republican control of the Senate, there has been a systematic effort to limit the power of the federal government. While one can only guess how this will develop, there will be an on-going struggle on this issue in the future. Conservatives generally hold the view that the federal government should deal only with matters of defense, foreign commerce, and diplomacy. They favor decentralized decision making which grants more power to states and localities.
Liberals generally are less suspicious of federal power.