WILLIAMSBURG, Va. — State treasurers voted Tuesday to urge Congress to extend the Build America Bond program at the current 35% subsidy rate, flouting those who warn lawmakers will only approve an extension at a reduced rate.

The resolution, approved during the National Association of State Treasurers annual conference here, does not include a time-frame for how long the program should exist. Some treasurers expressed concerns that a permanent extension of the federal program threatens states’ rights to issue tax-exempt debt.

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