Gov. Dannel Malloy says he's preparing yet another budget proposal, with fewer tax and fee increases, than the Democratic proposal that died last month.

According to Malloy, he says he should finish it up fairly soon to present it to lawmakers.

Meanwhile, Democrats and Republicans have been working on a bipartisan plan.

“I'm encouraged that if there is an agreement between leaders that it will come back and have some further discussions,” says Malloy. “I will say that whatever is contained in that document has to be free of gimmicks and games, pension steals and the like and i would expect that since we've made that known all along.”

The governor says his latest plan will include further spending cuts, but didn't say what those would be.