This paper starts from the proposition that although the Rehnquist Court imposed limits on federal power in the name of states\u27 rights far more aggressively than did its post-1937 predecessors, it just as often chose not to impose limits in cases that otherwise fairly can be thought to have presented a question of federalism. The article then makes three claims. First, the article argues that any ultimately satisfying account of the Rehnquist Court\u27s federalism doctrine must acknowledge that the decisions have often appeared to be driven as much by the Justices\u27 policy preferences about the underlying substantive matters at issue in the cases as they have by any neutral theory of federalism. Second, the article acknowledges that th...