WASHINGTON—Senate Republican leaders left members from both ends of the party unsatisfied with their version of President Trump’s “big, beautiful bill,” touching off a fast round of new negotiations to hit their self-imposed deadline of putting the bill on his desk by July 4.

Senate Republicans on Monday proposed steeper Medicaid cuts than those included in the House-passed version of President Donald Trump’s signature policy bill—making the bill’s passage by the July 4 deadline set by Congressional Republicans even more uncertain as Medicaid cuts have been a major sticking point for some in the GOP.

The proposal would salvage some clean-energy tax credits and phase out others more slowly, making up some of the cost by imposing deeper cuts to Medicaid than the House-passed bill would.