NEW: Texas Businessman ‘Joe From Texas’ Launches Bold Effort To Save Social Security

Joe Penland made a maximum contribution to Donald Trump’s 2024 campaign. He’s about a big a fan of the 47th president as there is.

“There is much reason for optimism,” he wrote in an op-ed shortly after Trump’s election.

One bright spot seen by “Joe from Texas,” as Penland is widely known, is the chance Trump has to save Social Security before it’s too late.

“You couldn’t run your house, you couldn’t run your business if you spent thirty percent more than you take in every year,” he said in a recent interview.

The Beaumont, Texas native struck gold as founder and chairman of Quality Mat Company, one of the oldest and largest producers of rig, oilfield, and crane mats in the world. In that time, he has served on the boards of several of the nation’s leading banks, and that experience has convinced him that it’s time to “unmask the American financial situation.”

Now, a new organization founded by Penland is dedicated to elevating Social Security reform to the White House. He points to history, citing Ronald Reagan’s 1981 presidential commission to explore reforms to keep the safety net sustainable for generations to come.

Watch his recent interview below:

Social Security is an important program that turned 90 years old. It is my mission to ensure this safety net for seniors survives for generations. Remember, it's YOUR MONEY that funds Social Security. You deserve every penny back. It is this week's Joe From Texas podcast topic: pic.twitter.com/svYyWcopG3

— Joe From Texas (@joepfromtexas) September 3, 2025

“It was a 50-year bandaid,” Penland said about Reagan’s fix. “Now we’re staring down the deadline in 2031.”

That’s the year when Social Security will run out of reserves to fully pay out beneficiaries. Instead, many seniors will see their monthly checks reduced by as much as 20% of what they’re owed.

A loss in revenue is mostly attributable to the explosion in retiring Baby Boomers taking advantage of the program, while the number of working-age Americans isn’t keeping up.

“We’ve simply outgrown the program,” Penland stated recently.

When Franklin D. Roosevelt signed Social Security into law in the 1930s, approximately 160 Americans were working for every one senior citizen who required government income. Today, that figure is 3-to-1 or even less.

“We need to reform the system and President Trump is the one to do it,” Penland explained. “He doesn’t need to run for re-election, he has a political mandate, he’s the one to get it done.”

“Our president has the shoulders to bear that, and I’ve got some plans, I’m working with the Speaker on that as we speak,” he continued, referencing U.S. House Speaker Mike Johnson (R-LA).

A trust fund intended to support Social Security is dwindling each year. About $67 billion was pilfered in 2024 to keep maximum benefits paid out, up from $41.4 billion in 2023, according to the Congressional Budget Office.

However, with a powerhouse American economy and a strong GDP in the years ahead under President Trump, Penland believes Americans have reason to be optimistic—and to get involved in the fight to save Social Security.

“The good news is there is still time to develop and execute a plan to make sure such a situation never happens,” he wrote in a Newsmax op-ed. “However, we must address this looming crisis soon because the longer we wait, the more difficult it will be to fix the problem.”

“You can play a key role in making this happen by contacting your congressional representatives and senators, asking them to introduce a resolution that urges the president to form a commission to save Social Security.”

To learn more about Joe and his mission, visit JoeFromTexas.com .