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any tax suspension would require of course action by congress. but the president will give a speech today throwing the administration support behind a three month gas tax holiday which would breathe new life into an issue that has so far been stalled on capitol hill. kevin liptak is live for us with this news. what is the administration saying about this? reporter: officials are certainly very bullish on this move. and it is something that the white house had been considering for months. they held off until now, but clearly president biden wants to show that he is taking some initiative on this issue and so in a speech later today the president will call on congress to pass a three month suspension of the gas and diesel tax. he wants to go until the end of september. he will also call on states to temporarily suspend their own gas taxes and he will renew these calls for oil and gas companies to up their refining capacity. and so administration officials claim that tak ....
And a lot of economists say that given the current supply and demand dynamic, that retailers will essentially take those savings themselves, raise the base price of gas, and that consumers won t necessarily see any savings. so i did ask administration officials about that yesterday and they said that president biden would call on companies to make sure that the savings are passed along, but they did acknowledge that simply suspending the tax won t solve the whole problem. devil definitely in the details there. and some people call it a gym pick. and by some people, we need biden s old boss. listen to this. we re arguing over a gimmick to save you half a tank of gas so that everyone in washington can pat themselves on the back and say that they did something. well, let me tell you something. this isn t an idea designed to get you through the summer, it is an idea designed to get them through an election. so what is the white house telling critics who say that ....