Mayor Bill de Blasio will team up with his counterparts from cities around the country to address the problem of income inequality nationwide.

De Blasio was chosen by the U.S. Conference of Mayors Sunday to chair the "Cities of Opportunity Task Force," which will help develop initiatives and solutions to address the issue.

The mayor said the slump in the middle class is detrimental to the nation's economy and if nothing is done soon, everyone will suffer.

"As mayors, we are on the front lines. It is our responsibility to create more opportunities for our citizens and more equitable cities," he said in a statement.

The yearlong task force will explore ways that can produce the most changes through budget decisions, purchasing power, regulatory controls and procurement policies.

Mayors from Sacramento, Boston, Philadelphia and Los Angeles are among those who have joined the effort.The group will have a kickoff meeting Aug. 10-11 in New York.