8/16/18
President Donald Trump's military parade this fall is shaping up to cost $80 million more than initially estimated. The Department of Defense and its interagency partners have updated their perspective cost estimates for the parade, according to a U.S. defense official with firsthand knowledge of the assessment. The official spoke on the condition of anonymity. The parade, slated for Nov. 10, is estimated to cost $92 million, the official said. The figure consists 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. A Pentagon spokesman said in an email to CNBC that the Defense Department expects to make an announcement soon, but he would not comment further. The White House referred questions to the Defense Department. The $92 million cost estimate includes 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 currently include approximately eight tanks, as well as other armored vehicles, including Bradleys, Strykers and M113s. The parade is also expected to include helicopter, fighter jet, transport aircraft as well as historical military plane flyovers. Troops in period uniforms representing the past, present and future forces will march in the parade, as well. 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. That parade reportedly cost approximately $8 million and was paid for with about $3 million in government funds and the rest with private donations. The $92 million figure dwarfs the $12 million estimate that was first reported by CNN last month.
