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.

The Senate proposed a "no tax on tips" plan that differs in a few ways from one advanced in May by House Republicans.

Senate Republicans plan to modify President Donald Trump’s massive fiscal package to lower maximum deductions for state and local taxes and limit the impact of a “revenge” tax on foreign