Romney says his plan would be deficit-neutral by eliminating the State and Local Tax Deduction, making eligibility changes to food stamp benefits, eliminating the head-of-household tax status, and eliminating the Temporary Assistance to Needy Families program.
White House Chief of Staff Ron Klain wrote on Twitter that the proposal is "an encouraging sign that bipartisan action to reduce child poverty IS possible."
However, Romney's plan was met with some criticism from Republican senators.
In a joint statement on Thursday, Sens. Marco Rubio (R-Fla.) and Mike Lee (R-Utah), advocates of the Child Tax Credit, said they do not support transforming the credit into direct monthly payments such as in Romney's plan.
Romney's benefit would be "paid out as a universal basic income to all parents," they said, calling it "welfare assistance."
"An essential part of being pro-family is being pro-work. Congress should expand the Child Tax Credit without undercutting the responsibility of parents to work to provide for their families," the senators stated.
Romney's office did not immediately respond to a request for comment on the scope of support for the proposal.
Asked about Rubio and Lee's pushback on Romney's proposal, Wilcox said he thinks both approaches have merit but it is "crucial we move forward with something real."
"Senator Romney's approach would give families crucial financial support," he said, adding he hopes something is passed this year "to give working class families a leg up."
Wilcox was one of several conservative intellectuals to call for an increase to tax credits for working families last summer, to provide relief amid the pandemic.
Kate Scanlon served as EWTN News Political Affairs Correspondent through August 2021.