Fiscal Federalism: from the Gramm-Rudman-Hollings Act to the Atlantic Maastricht Treaty

The United States is the first significant historical example of a federation. The US Constitution, promulgated after obtaining independence, was a reference point for all integration processes. Born out of the culture of the Enlightenment, this enabled the development of modernity and fuelled liberal tradition, allowing federalism to enter the history of mankind1.
The constitutional order designed by Jay, Madison and Hamilton has constantly evolved to adapt to the changes internationally and within the United States. A fundamental turning point can be seen in Roosevelt's New Deal in the 1930s, which led to a move towards a centralisation of power at a federal institution level rather than a member state level2. We need to understand whether the United States will move towards an increased centralisation in the future, or rather opt to return to an order more faithful to the original federal nature of the Union. It is essential to form a response to this question in order to evaluate the possibility of increasingly close cooperation between the European Union and the United States, and in particular to assess to what extent it is realistic to raise the issue of an Atlantic economic and monetary union.