It allows for later revision that improves the plan.
Roberta Romano 21, Sterling Professor of Law at the Yale Law School; Simon A. Levin, director of the Center for BioComplexity at Princeton University, 6/25/2021, "Sunsetting as an adaptive strategy," PNAS, vol. 118, no. 26, christian
Major financial legislation is invariably enacted in the wake of a financial crisis. However, legislating following a crisis is hazardous, because information is scarce regarding causes of the crisis, let alone what would be an appropriate response. Compounding the lack of information, crisis-driven legislation is sticky, but financial markets are dynamically innovative, which can undermine the efficacy of regulation. As a result, it is foreseeable that such legislation will contain at least some provisions that are inapt or inadequate or, more often, have consequences that are not well understood or even knowable. This paper advocates the use of sunsetting as a mechanism for mitigating the potentially adverse consequences of crisis-driven financial legislation. With sunsetting, after a fixed time span, legislation and its implementing regulation must be reenacted to remain in force. Such a requirement would compel a timely revisiting of crisis-driven legislation when far more information is available than at the time of enactment.