In 2021, a budget cap will be introduced in F1 in an attempt to bring the competition closer together and provide more chance for smaller teams to find success.
Haas, who joined the F1 grid in 2016, is "quite conservative" with its spending according to Steiner.
"We said we'd stick with what we got," Steiner said. "We are quite conservative with these things. We're going to do what we're doing and try to do it as good as possible.
"The next thing is, the teams, when it increases and it gets decreased again, they are the ones who cry about it. You knew it was coming, if you have no wish and just do what is convenient at the moment, maybe that doesn't work."
Steiner acknowledged that it will be a difficult task for the big teams to decrease their yearly spend to $175 million.
"What it is mainly, we are not going to make the gap bigger," he stated. "The big teams need to come down quite a bit.
"Already for them, it's a difficult task to do. But the best thing to do is not increase the budget because then you make the gap even bigger."
Steiner added that small increases in the budget cap will have major implications for the smaller teams compared to the larger outfits, who have more scope for spending.
"There would be no point in being here if the gap is two seconds," Steiner said. "If you think about it, if you have got a $300 million budget and increase it by 5% for a big company, it's not a lot of money.
"But for us, the 5% is 10% and we can't do that. The bigger their budget gets, the bigger the percentage number for us gets.
"It's a very good step in the first place, but we need to see how it works, we need to see all the nuances and go from there."
Bahrain International Circuit - Winter testing