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.

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.

WASHINGTON—Senate Republicans detailed major revisions of the House’s giant tax-and-spending bill, offering more permanent business tax breaks, deeper cuts to Medicaid, slower phaseouts for clean-energy tax credits and a much lower cap on the state and local tax deduction.