What to Know
An initial estimate last month pegged the prospective cost for the parade at $12 million
The ceremony is said to be largely inspired by Trump's front-row seat at France's Bastille Day military parade in Paris
The U.S. has not held a major military parade in Washington since 1991 to mark the end of Operation Desert Storm
The Pentagon said in a Thursday statement that it would "explore opportunities" in 2019 for President Donald Trump's military parade that originally had been set for November of this year.
That development came just hours after CNBC reported that the parade had been shaping up to cost $80 million more than initially estimated.
The Department of Defense and its interagency partners had updated their perspective cost estimates for the parade, a U.S. defense official with firsthand knowledge of the assessment had told CNBC. The official spoke on the condition of anonymity.
The parade, originally slated for Nov. 10, had been estimated to cost $92 million, the official said. The figure consisted of $50 million from the Pentagon and $42 million from interagency partners such as the Department of Homeland Security. An initial estimate last month pegged the prospective cost for the parade at $12 million.
That $92 million cost estimate included security, transportation of parade assets, aircraft, as well as temporary duty for troops. The official also noted that, while the size and scope of the military parade can still shift, the plans included approximately eight tanks, as well as other armored vehicles, including Bradleys, Strykers and M113s.
Here's the statement from Defense Department Spokesman Col. Rob Manning:
"The Department of Defense and White House have been planning a parade to honor America's military veterans and commemorate the centennial of World War I. We originally targeted November 10, 2018 for this event but have now agreed to explore opportunities in 2019."
This story first appeared on CNBC.com. More from CNBC:
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