No, they do, but in most cases the effects emerge in the long run. Most laws take several months or years to go into effect, and then more time for patterns to emerge, and even more time for them being actually measured.
Take taxes. In the UK, the budget is approved in Spring (let's say 2020). Any change in income tax or corporation tax will go into force a year later, so April 2021. Individuals must file their returns the following January 2022, with nominal penalties for delaying an extra month. Statistical aggregation then takes place, which can take several more months. So basically, you won't know the immediate effect of a tax policy until almost 3 years later - and that's just for short-term effects! Actual long-term patterns might not be visible before 5 or 10 years have passed. In the meantime, we'll already be debating further changes, while we've not even fully absorbed the previous ones.
And taxes are as straightforward a field as you can have! Legislation on things like building standards typically carries some slack to give people time to adapt, and measuring effects of changes can be very hard even over a decade.
Both very substantially influence the day-to-day, but usually on very different time scales.
This was true in the Trump era. Prior to the pandemic, by most metrics America was doing very well in Trump's first few years. The economy was doing well, unemployment was low, and even metrics like African-American unemployment were reaching historically low levels. For the average American who didn't pay attention to the news, that time period was probably one where you had a job, it paid well, and things were looking good. But if you listened to the media you'd think that America was literally burning to the ground.