Senators departed the nation’s capital on Wednesday for a weeklong break, leaving behind uncertainty surrounding President Donald Trump’s “big beautiful bill.”

U.S. Senate Republicans have unveiled their version of President Donald Trump's sweeping tax-cut and spending bill that is broadly similar to the legislation that narrowly passed the House of Representatives last month.

Senate Republicans are taking Medicaid cuts even further than their House counterparts with legislation that targets hospital payments.

The Senate’s deep cuts to Medicaid in the tax and spending megabill are setting off alarm bells among some Republicans, complicating leadership’s effort to get the legislation passed by July 4. It seeks to clamp down on two tactics states use to boost Medicaid funding to hospitals: state-directed payments and Medicaid provider taxes.

Senate Republicans are now considering a new addition to their "big, beautiful bill" of tax cuts for President Donald Trump, Politico reported: a bailout fund for hospitals at risk of shuttering due to the bill's Medicaid cuts.

Shares of stablecoin issuer Circle and crypto exchange Coinbase surged on Wednesday after the U.S. Senate passed a landmark stablecoin bill, boosting hopes of wider adoption for a once-niche part of the crypto sector.

Less than two weeks after its IPO, Circle Internet’s market capitalization has surpassed that of nearly half of the S&P 500’s companies.