Trump's infrastructure, tax plans will boost US economy: Union Pacific CEO

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Union Pacific CEO on infrastructure overhaul in US

Union Pacific CEO Lance Fritz on how his company would be impacted by President Trump's $1.7 trillion infrastructure plan.

Union Pacific (UNP) CEO Lance Fritz on Thursday told FOX Business that President Trump’s infrastructure and tax reform plans will boost the economy, which in turn will help his business prosper.

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“Let’s start at the highest level. We love infrastructure investment because it helps the U.S. economy be more robust. A good highway system, a safe airway system, robust electricity grid, all of that ultimately would benefit the Union Pacific,” he told FOX Business’ Liz Claman on “Countdown to the Closing Bell.”

President Trump said Wednesday he would add an additional $700 million to his originally proposed $1 trillion infrastructure plan. The president plans to discuss the $1.7 trillion infrastructure package next week, during the annual State of the Union address.

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Though the Fritz believes that infrastructure plays a vital role in economic growth, he also believes that the Trump tax plan will have a positive effect on both the economy and his business.

“It’s going to impact the U.S. economy favorably. I think it makes our manufacturers more competitive globally and more competitive locally, and that’s good for us because that will prompt the industrial economy and the consumption economy to grow and prosper. As a result, that’s going to generate more opportunity for us, which will drive capital investment, and it will drive employment and our jobs are very high-paying jobs,” he said.
 

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