Whereas rental housing is a vital component of the United States housing market, providing a place to live for nearly 44 million households and more than 111 million Americans; Whereas the number of households renting their homes increased by 9 million over the past decade, the largest 10-year gain on record; Whereas the demand for rental housing is expected to intensify over the coming decade as members of the 78-million-millennial generation form households for the first time, and many of the 75-million-baby-boomer generation transition from home ownership to rental housing; Whereas the annual median income of renters is less than half that of homeowners; Whereas over the past 15 years, rents have grown faster than household incomes; Whereas more than 11 million households in communities across the country pay in excess of 50 percent of their income on rent and utilities, making them severely cost-burdened under Federal standards; Whereas these 11 million severely cost-burdened households include 14 million women, 8 million children, 9 million millennials, 2 million senior citizens, and nearly 800,000 veterans; Whereas severely cost-burdened renters are more likely to experience poor health outcomes, educational setbacks, loss of jobs and productivity, and greater food instability; Whereas nearly 13 million renters work jobs that are the engine of the Nation’s economy (e.g., office and administrative, food service, transportation, building and grounds maintenance, construction, production, personal care, managers, education, and cashiers), and yet devote more than 30 percent of their income just to rent; and Whereas the Nation’s lowest income renters face a shortage of affordable and available rental homes: Now, therefore, be it