Connecticut lawmakers are “very close” to reaching a new two-year budget deal with Gov. Ned Lamont, both sides said on Thursday.

It comes one day after Connecticut House Speaker Matt Ritter (D-Hartford) threatened to pass a one-year spending plan.

“Last night we made substantial, substantial, substantial, substantial progress on a two-year budget,” he told reporters on Thursday morning.

The standoff centered over how to pay for $140 million in health care worker raises that Lamont negotiated, preventing a potentially crippling strike.

To make the numbers work, Democrats plan to pre-pay $200 million worth of teacher pension contributions, freeing up spending room in Year 2 of the next budget. The new budget will also include some changes to higher education spending, Ritter said.

Republicans called it fuzzy math.

“This budget is going to be cobbled together with gimmicks that do end around the spending cap,” said House GOP leader Vin Candelora (R-North Branford).

The new budget includes a $150 per-child check for parents, according to Ritter.

Lawmakers expect to vote on the spending plan next Monday.