Senate Majority Leader Mitch McConnell, R-Ky., joined by, from left, Sen. John Barrasso, R-Wyo., Sen. John Thune, R-S.D., and Majority Whip John Cornyn, R-Texas, speaks following a closed-door strategy session, at the Capitol in Washington, Tuesday, June 20, 2017. Sen. McConnell says Republicans will have a “discussion draft” of a GOP-only bill scuttling former President Barack Obama’s health care law by Thursday. (J. Scott Applewhite/Associated Press)

WASHINGTON — Senate Republicans would cut Medicaid, end penalties for people not buying insurance and erase a raft of tax increases as part of their long-awaited plan to scuttle President Barack Obama’s health care law, congressional aides and lobbyists say.

After weeks of closed-door meetings that angered Democrats and some Republicans, Senate Majority Leader Mitch McConnell planned to release the proposal Thursday. The package represents McConnell’s attempt to quell criticism by party moderates and conservatives and win the support he needs in a vote he hopes to stage next week.

In a departure from the version the House approved last month, which President Donald Trump privately called “mean,” the Senate plan would drop the House’s waivers allowing states to let insurers boost premiums on some people with pre-existing conditions. It would also largely retain the subsidies Obama provided to help millions buy insurance, which are pegged mostly to people’s incomes and the premiums they pay.

The House’s tax credits were tied to people’s ages, a change the nonpartisan Congressional Budget Office said would boost out-of-pocket costs to many lower earners. Starting in 2020, the Senate version would begin shifting increasing amounts of tax credits away from higher earners, making more funds available to lower-income recipients, some officials said.

The emerging Senate bill was described by people on condition of anonymity because they were not authorized to discuss it publicly.

Facing uniform Democratic opposition, the Senate plan would fail if just three of the chamber’s 52 Republicans defect. More than half a dozen GOP senators have expressed problems with the…