Milk has an expiration date. Your drivers’ license has an expiration date. Heck even my life insurance policy has an expiration date. Yet most legislation does not come with an expiration date. Ironically, it seems that any legislation that potentially reduces the size and scope of government does come with an expiration date (e.g. the Bush Tax Cuts) but I don’t see a lot of pressure to have expiration dates on much of anything else. Imagine if the Fed had an expiration date, or the FCC, the FDA, or any of the thousands of rules that are handed down by the bureaucrats.
Even if you believe many such rules would be good things, the existence of an expiration date would require a regular visitation of the rules to see if they are cost-effective, just and sensible. Furthermore given the fact that thousands of rules would have to come up for discussion, it would promote the creation of Simpler Rules. And that is something we should all prefer.