Content maintained in visual working memory changes concurrent visual processing, suggesting that visual working memory may recruit an overlapping neural representation with visual perception. However, it remains unclear whether visual working memory representations persist as a sensory code through time, or are recoded later into an abstract code. Here, we directly contrasted a temporal decay + visual code account and a temporal decay + abstract code account within the temporal dynamics of the interaction between working memory and perception. By manipulating the ISI (inter-stimulus interval) between working memory encoding and a perceptual discrimination task, we found that task-relevant and therefore actively maintained perceptual information parametrically altered participants' ability to discriminate perceptual stimuli even 4 s after encoding, whereas task-irrelevant information caused only an acutely transient effect. While continuously present, the size of this shift in discrimination thresholds gradually decreased over time. Concomitantly, the size of the bias in working memory reports increased over time. The opposing directions of threshold and bias effects are consistent with the local maintenance of information in perceptual areas, explained by a temporal decay + visual code account. As the maintained representation decays over time, its ability to alter incoming perceptual signals decreases (reduced threshold effects) while its likelihood of being impacted by those same signals increases (increased bias effects).Altogether, these results suggest that the readout of working memory relies on a sensory representation at a cost of increased interference by ongoing perception.