This is the governing philosophy of the Republican Party as explained by Nick Confessore on Tapped. Though he gives way too much credit to William Howell, leader of the House. He did more to sabotage this, with referendum demands, arm twisting former governors to fight against it, and tabling bill after bill.
Of course, this could still collapse at any time. The Senate actually wants more money, for fear of having to do this again in the near future, and it's not likely the House will yield any more.