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Proposal will be released next month with administrations 2013 budget.
No progress made on resolving dispute about financing the extended tax cut.
Efforts to extend payroll-tax break hit an impasse.
Reid plans to retain only the tax cut for employees to reduce measures cost.
Debate on Capitol Hill shifts to how to cover costs of extending break.
Multinationals have to choose between Rep. Camp's tax overhaul or repatriation break.