Trump's military parade to cost $80M more than initial estimate: report

President TrumpDonald John TrumpLondon terror suspect’s children told authorities he complained about Trump: inquiry The Memo: Tide turns on Kavanaugh Trump to nominate retiring lawmaker as head of trade agency MORE's planned military parade in Washington, D.C., is reportedly estimated to cost $92 million, $80 million more than was initially thought. 

CNBC reported Thursday that the Department of Defense's updated cost estimates includes $50 million from the Pentagon and $42 million from interagency partners, including the Department of Homeland Security. 

The development comes about a month after CNN, citing three U.S defense officials, reported that the parade would cost close to $12 million. 

The soaring costs will fuel opposition to the parade from Democrats and some Republicans, who fear the display, planned for Nov. 10, may look "totalitarian" as it winds its way through the streets of D.C.

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“I think confidence is silent and insecurity is loud,” GOP Sen. John KennedyJohn Neely KennedyMORE (La.) told reporters earlier this year. “America is the most powerful country in all of human history; you don’t need to show it off.”

“We’re not North Korea, we’re not Russia and we're not China, and I don’t want to be,” Kennedy said. “And for that reason I would be against flaunting our strength. We don’t need to; everybody knows we have it."

A spokesperson for the Pentagon told CNBC that the Defense Department is planning on making a formal announcement about the costs soon. The Pentagon did not immediately return a request for comment from The Hill. 

The cost estimate that reaches $92 million accounts for security, transportation of parade assets, aircraft, as well as temporary duty for troops, CNBC reported. 

An official also told the network that the plans for the parade included about eight tanks and other armored vehicles. In addition, the parade is set to feature helicopter, fighter jet, transport aircraft and military plane flyovers. 

NBC News has previously reported that it is expected to begin at the Capitol, continue past the White House and end at the National Mall.

Trump is said to have been inspired by the Bastille Day parade he saw when he visited France last year, desiring a similar event at home.