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No. They don't really stand for that now; it's a semi-convenient (over)simplification for distinguishing themselves from the Democrats. If you want a party that's actually serious about limiting federal (and other governmental) power, then you're looking for the Libertarians.

The approximate spread from "limiting federal power" to "unlimited federal power" is Libertarians - Republicans - Democrats - any party with "People's" or "Socialist/Communist" in the name... with TONS of overlap, to the extent that at least the middle two can swap positions depending on the particular issue in question. The "Green" party in the US is somewhere between Republicans and Communists, though exactly where can be hard to pinpoint.

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Q: Did the Republican party always stand for limiting federal power?
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