Recently, Scott has been saying he's getting closer to making a presidential endorsement. As a Tea Party favorite, Scott's endorsement would be a boon for any Republican presidential candidate both in South Carolina and nationally.
Gingrich also pressed front-runner Mitt Romney on his business record as CEO of investment firm Bain Capital and pushed the former Massachusetts governor to release his tax records.
In the radio interview, the South Carolina congressman also said that if Romney, who's been polling at the front of the pack in the Palmetto State, gets the nomination, he will need to pick a vice presidential candidate favored by the Tea Party wing of the Republican Party.
"In order for Romney to be successful in November, he has to have a vice presidential candidate who has a more conservative base than he does," Scott said.
Scott said his criteria for picking a candidate to back includes finding a contender who represents his "values" and can also defeat President Obama in November.
"I am trying to find out which candidate (A) represents my values, and (B) wins," Scott said according to The Wall Street Journal. "I am going to create a little matrix for myself and come to a decision."