Juicing Liquidity

What if the IRS opened a window of time (say, now through July 15, 2020) in which:
  • Money in an IRA can be contributed without taxation or penalty to a qualified 501(c)3 (many baby boomers and others may calculate that they have enough or more than enough to get them to the finish line, and this may nudge them to help others).
  • Money in an IRA can be withdrawn without penalty (but taxed in the way it normally would, i.e. as income in an IRA, tax-free in a Roth) for any reason (i.e., to pay bills and buy food). In this case, "emergency funds" withdrawn may be replaced in the future through make-up contributions to the same account they came from. This reduces opportunities for any immediate gains to be captured (assuming there are any), but it may stave off bankruptcy or lesser financial hardships.
I assume similar policies could be applied to 401(k) accounts as well, but since those are even more regulated than IRAs, and since a corporate intermediary/sponsor is in the mix and therefore theoretically susceptible to litigation if this comes back to bite someone, it may not be wise to go down this road.