Despite the lack of future clarity, experts say the assistance that's already been provided has offered struggling families a financial cushion amid an extraordinary blend of public health and economic crises. New research indicates the government intervention helped keep around 12 million people out of poverty, and many jobless workers saw their incomes increase during the pandemic.

The bump in earnings led to a quick rebound in consumer spending for the lowest-paid workers. Economists at Opportunity Insights -- a Harvard University research group -- estimate that spending from the bottom quarter of ZIP codes, ranked by income, plummeted 30% in March compared to pre-coronavirus levels. Now, it's down roughly 3% from January, though the speed of the recovery remains highly uncertain.

In other words, giving people money through unemployment benefits or direct payments packed a positive punch for the economy, helping many buy groceries, make rent payments, and support their essential needs.

"You give lower income people money and they're spending all of it, which is the biggest economic boost," Amanda Fischer, policy director at the Washington Center for Equitable Growth, told Business Insider.

Robust federal action also appeared to have led to a decline in poverty. Another study from the University of Notre Dame and the University of Chicago indicated the poverty rate dropped to 8.6% in March and April from 10.9% in the first two months of the year -- in the midst of the worst economic crisis since the Great Depression.

"It shows that the government is perfectly capable of creating income security, not just in moments like this but in general," Matt Bruenig, founder of the People's Policy Project, a left-leaning think-tank, told Business Insider.