The state House of Representatives stood poised this afternoon to adopt a plan to eliminate most of the $371 million deficit projected for this fiscal year.

Speaker Christopher G. Donovan, D-Meriden, and House Minority Leader Lawrence F. Cafero, R-Norwalk, both said most of their respective caucus’ are expected to vote in favor of the plan, which relies largely on spending cuts, raids on special trust funds and other accounts, and additional federal grants.

The bill, which would head next to a Senate vote, tentatively scheduled for Wednesday, would eliminate $323.2 million of this fiscal year’s deficit. The measure was negotiated with Gov. M. Jodi Rell’s office, and the Republican governor is expected to sign the bill.

The plan does not include earlier proposals to boost the estate tax or restore a levy on hospital gross revenues.

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