Connecticut lawmakers planned to again try to pass a state budget Wednesday after going without one for months.

Four hours after debate was scheduled to begin, the state Senate convened to take up a bipartisan budget. Earlier in the day, the General Assembly Finance Committee approved taxes for the budget by a wide margin, giving hope that the bill would pass with a veto-proof majority -- but it remained unclear whether Gov. Dannel Malloy will veto the plan.

"If I was to tell you that I was going to veto a document I haven't seen, you would say that is unreasonable," he said earlier in the day.

Connecticut is the only state in America that still hasn't passed a budget. If lawmakers fail to act again, a new round of deep cuts will kick in next week.

But for the first time in years, the two parties have agreed on a deal, and they said they expected to pass the plan.

"We all have to compromise," said state Sen. Tony Hwang, a Fairfield Republican. "People came away relatively unhappy, but isn't that what compromises are all about?"

The deal avoids major tax hikes, but it also cuts some money from local schools and a lot of money from the University of Connecticut. Read the full budget HERE.

Go HERE for News 12 Connecticut's previous video coverage.