After nearly four months without a new two-year state budget, both Democratic and Republican leaders say they have reached a tentative deal.

Lawmakers spent hours Wednesday in negotiations before revealing the tentative agreement, noting that they compromised on about "30 percent" of the deal. They say the deal is so fragile, they don't want to give out too many details yet.

Parts of the deal include spending and borrowing limits and cities and towns would not have to cover millions of dollars in teacher pensions. Town officials said that would have led to much higher property taxes.

The deal also states that local schools and poorer districts like Bridgeport would get more money. However, it is unknown if wealthier suburban schools will receive any money at all.

"This is not the usual, 'It's June, let's get a budget together'," says state Rep. Themis Klarides (R-Derby). "We have to deal with towns and cities, children and parents, education suffering."

If Gov. Malloy vetoes this deal, lawmakers say they need enough votes to override him.

“I'll reserve judgement on those details and others until I see a full product, and I would advise you all to do exactly the same," say Gov. Malloy.

Officials say members of the House will get briefed Thursday, the governor will receive the deal Friday and that state senators will meet on Monday.

Lawmakers say they're hopeful for a vote next week, but would not commit to a specific date.