What a profoundly naive and ignorant idea.
Expire all laws? Like all federal criminal law against fraud, racketeering, drug trafficking, computer misuse, theft, and murder?
All the laws enabling agencies like the FDA, which keeps the food supply safe? Laws that regulate and maintain the highway system and regulate interstate commerce? Laws that establish the FDIC and keep confidence in banks?
Not to mention the huuuuge body of procedural law, which defines how the courts work, how the military is governed, etc?
The US Congress would not have time to reauthorize the entirety of federal law, much less write new law. The states wouldnt have the time to do this either.
Businesses would hate this because there would be so much uncertainty.