Senate Republicans released a new version of their health care bill Thursday, unveiling a proposed rollback of Medicaid expansion and funding, while ensuring hefty tax cuts for health care companies. Among other things, the bill reduces the number of middle-income people eligible to get tax credits for private health insurance, eliminates the individual and employer mandates, and bans Planned Parenthood from receiving any federal funding for one year.

The Senate bill is similar to the one the House passed in May, and to the original Senate version unveiled last month. The new Senate bill would cut Medicaid more than the House measure, allow insurers to charge older people higher rates, permit states to waive rules guaranteeing insurance covers a basic set of benefits, and allow health insurance companies to go back to rejecting people with preexisting conditions.

This is an update of an article published on June 22.