President Donald Trump and former Vice President Joe Biden participate in the final presidential debate on Thursday at 9 p.m. ET in Nashville, Tenn., moderated by NBC News’ Kristen Welker. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

Trump and Biden differed sharply on the question of a national minimum wage.

The current national minimum wage is $7.25 per hour, and Trump argued that the minimum wage should be left to the states. Biden backed a nationwide $15 minimum wage.

“Small businesses, by raising the minimum wage — that is not helping,” said Trump. “It should be a state option. Alabama is different from New York. New York is different from Vermont. Every state is different. We have to help our small businesses.”

The question of whether raising the minimum wage contributes to unemployment on a macro level is still hotly debated by economists.

Welker pressed Trump on his previous suggestion that he’d consider raising the minimum wage. “I would consider it to an extent,” Trump said. “But not to a level that is going to put all these businesses out of business. It should be a state option. Different places are all different. Some places, $15 is not so bad. In other places, $15 [is good].”

Biden jumped in. “These people are working two jobs, because one job is below poverty,” Biden said. “People are making $6, $7 an hour. These first responders, we clap as they come down the street ... They deserve a minimum wage of $15. Anything below that puts you below the poverty level. And there is no evidence that when you raise the minimum wage, businesses go out of business.”

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