In a bipartisan letter to Congress, Denver Mayor Michael Hancock was one of 44 mayors representing 8 of 10 most populous areas in the United States to call for the passage of legislation that would build 550,000 new affordable housing units nationwide over the next decade.

The letter urged congressional leaders, including Senate Majority Leader Mitch McConnell, Minority Leader Chuck Schumer and House Speaker Nancy Pelosi, to include affordable housing legislation introduced by U.S. Sen. Maria Cantwell, D-Wash., and U.S. Rep. Suzan DelBene, D-Wash., in any tax package weighed by Congress before the end of the month.

“Our nation is facing one of the worst housing crises in our history,” the mayors’ letter wrote. “The Affordable Housing Credit Improvement Act would have a critical impact in addressing our rental housing shortages and increasing access to affordable housing for hard-working families, seniors, veterans and people with disabilities.”

The letter said the affordable housing legislation would offer a “much-needed investment” in housing infrastructure across the country, while generating nearly $49 billion in wages and business income, more than $19 billion in additional tax revenue and more than half a million jobs.

Cantwell and DelBene introduced the legislation in June in the wake of a housing affordability crisis widespread throughout the nation. One of the main goals of the legislation is to increase the number of credits available for housing developments that serve low-income populations.

“Cities have been stepping up where the federal government has fallen short on providing housing options for hard working families,” Hancock said in an email to Colorado Politics. “The expansion of this tax credit is an important incentive to get more affordable housing out of the ground at a time when there is an urgent need for it, and an important partnership with the cities already stretched to meet the needs of their residents.”

In recent years, Denver has struggled to provide affordable housing to those who need it most. Even people who can afford to own a home face financial challenges in the current market, as evidenced by a Metrostudy analysis that found less than a quarter of Denver area households can afford the new home sale price, which is inching toward $600,000.

Hancock signed an executive order in October that formally established the new Department of Housing Stability, which is aimed at bringing together the city’s affordable housing resources and other homelessness services to address housing for people experiencing homelessness as well as affordable home ownership and “everything in between.”

“Protecting and improving the affordability of our homes is the guiding principal that informs and shapes all of our work and our policies,” Hancock said in his October announcement, “and this is a huge step forward to ensuring that anyone who chooses to live in Denver can do so with a safe and affordable roof over their head.”

His 2020 budget allocated $97 million toward “affordable and attainable” housing, with more than $70 million funneled toward the new housing stability department.