I'm not really that familiar with legislative processes, but this seems ridiculous if it's true. Isn't it the job of the house to write bills? What else do they have to do? Why won't they get another shot?
I think it's just a lack of political will. Not from regular people, but from politicians. People love to point to a huge 1000+ page bill that didn't pass because the guys voted it down and say "oh well we can't have X because the other guys voted against it". If "your guys" are really interested in having X, why don't they just write another bill that contains the minimum language to enact it?
We should really reject these massive "omnibus" bills out of principle. No one even reads them! There's no reason we can't have simple, targeted legislation that is limited to exactly one topic.
It's not a black/white situation of choosing between economic collapse or hyperinflation at all. And keep in mind there were 3-4 huge packages passed. It's not like this had to be done as a single rushed magnum opus bill, this is the consequence of many bills and executive actions passed over 2 years, coinciding with a Fed that had unilateral power to ease the brakes yet did nothing for 2 years.