Final proposal... What does that mean? What happens if the proposal is declined?
Yeah, nada.
There's no ceasefire around the corner, not after they just wasted a bunch of hostages. I've figured for a while now "no more hostages are getting out unless taken by force in raids - certainly no more men are being released", it kind of is what it is.
This should have always been a "we'll stop bombing you when the last of our people are released alive and you give up the entire Hamas operational brass" situation from the start, there's no real way around it. Of course that's fantasy and Hamas would/will never do it, but those have to be the parameters for peace if you're Israel.
The fighting will continue, and Biden/Blinken will throw another round of talks out there next week after a bunch more people die. They can't give up on chasing the deal, it's just that the deal's not going to happen, because it can't, because neither side wants peace and frankly probably shouldn't want peace.