I like the idea of policy changes like this having an expiry date a few years in the future, which forces a periodic revote if some party wants to keep the new policy. Like a political office term, this should be long enough to give businesses a timeframe they can plan around, and an opportunity for voters to see how the policy played out.

Perhaps it would lead to an ever-increasing pile of legal "confirmation dialog boxes" that bore the public. But I like that the default action (doing nothing) would lead to regulations being deleted, as there are few forces that act to reduce regulation, and having too many regulations is another slow-burn energy sink for everyone.

Which policies would be up for review? Everything? Do we have to re-outlaw murder ever 5 years?

Regarding murder, I don't have a problem with having to periodically re-criminalise that either, though I think that for cases like this where there's enough of a consensus, the ban could be either permanent or much longer-term (e.g., every 50 years). In fact, having overly frequent votes on such serious crimes might encourage people to try to overturn them as a prank.

That's ideally why we elect proper representatives and have advocacy groups who can expend that energy. We don't do too much better there, spending a fee hours researching who will actually fight in our interest instead of enabling the armies of minor inconveniences to stack up.

Sad thing about the US is that it's a reactive country, not a preventative one. It really doesn't try to act on stuff until it's arguably too late.