FORT WORTH, Texas (AP) — The oil and gas boom and millions of new consumers have propelled revenue growth in Texas to nearly twice the national average.  

Yet, a new report from Standard & Poor's shows income inequality is putting a brake on the pace of expansion.

A senior economist at the Dallas Federal Reserve says Texas has a much higher percentage of low-paid, low-skilled immigrants and higher share of workers earning the minimum wage than the average state.

Pia Orrenius says that "at some point, the state is going to have to deal with the income inequality issue."

According to 2012 U.S. Census data, the lowest 20 percent earn an average $11,296 per year in Texas, while the top 5 percent earn $317,661.

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