"We're not suggesting that it's going to fix all of our fiscal problems, but what Chris and I think this will help do is help change the culture of spending here in Washington that both parties have been a party to," said Ryan Wednesday on on MSNBC's "Andrea Mitchell Reports."
The bill is very similar to the Reduce Unnecessary Spending Act of 2011 that Van Hollen introduced in March.
"Paul and I obviously disagree on lots of policy issues, but we both agree that we need to be good stewards of the taxpayer dollars. We need more accountability. We need more oversight. We need more scrutiny and that's exactly what this does," added Van Hollen in the joint interview with Ryan.
For details on the proposed budget legislation on The Hill's On The Money blog, click here.
—Erik Wasson contributed to this story.