Mnuchin speaks a more sophisticated language than most on Wall Street, Jim Cramer says

Treasury Secretary Steven Mnuchin's long-standing history on Wall Street is a major asset for the U.S. government, CNBC's Jim Cramer said on Thursday.

"This is a Treasury secretary who is not only uniquely from Wall Street, but he speaks a language that is more sophisticated than most Wall Streeters ... That's new to have someone that savvy," Cramer said on "Squawk on the Street."

"[Mnuchin's team is] going to bring what is going to be the cheapest piece of paper they can for the government," he said, discussing the tax plan.

Mnuchin, 54, is a former Goldman Sachs partner and former CEO of OneWest Bank.

In an exclusive interview on "Squawk Box" Thursday, Mnuchin said he wants to see "very significant" tax reform passed before Congress' August recess.

"We want to get this done by the August recess. We've been working closely with the leadership in the House and the Senate and we're looking at a combined plan," he said.

—CNBC's Jacob Pramuk contributed to this report.