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House GOP leaders oppose an extension; Reid has scheduled a vote on his legislation for this week.
A tax subsidy may be necessary to motivate employers to offer retirement benefits.
Monetary authorities debate the extent to which they should pursue other goals.
Legislators who had called for repeal are now focused on technical corrections.
Companies have cut borrowing expense to lowest level since 2002, making it harder to squeeze costs.
Italian Prime Minister's departure poses test for eurozone.