Hours earlier, officials said costs had blown out to US$92 million.
This new estimate came from a us defense official who spoke to CNBC on the condition of anonymity.
In February, White House Budget Director Mick Mulvaney told Congress the parade would cost between $10 million and $30 million. An anonymous USA defense official said $50 million would come from the Pentagon and $42 million would come from interagency partners like the Department of Homeland Security.
"Any cost estimates are pre-decisional".
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. Another official told CNN the Defense Department statement had been coordinated with the White House. Such parades in other countries are usually staged to celebrate victories in battle or showcase military might.
A memo at the time said no tanks would be used so as not to damage the roads of the nation's capital.
The parade is also expected to include helicopter, fighter jet, transport aircraft as well as historical military plane flyovers. Troops will march in period uniforms.
President Trump was impressed with a Bastille Day parade when he visited France in 2017, inspiring him to request a military review for Washington, D.C. The date for that parade is now uncertain.
U.S. President Donald Trump walks across the South Lawn after arriving in Marine One from a recent trip to NY at the White House in Washington, U.S., August 13, 2018. In 1991, a massive parade was held to celebrate U.S. victory in the Gulf War, at a cost of $8 million. That celebration cost around $8 million, The Washington Post reports, and even then citizens were divided on whether the event was necessary. The Pentagon later said the Korea drills would have cost $14 million.
"We save a fortune by not doing war games, as long as we are negotiating in good faith - which both sides are!"
"We will be stopping the war games, which will save us a tremendous amount of money", Trump said in June after meeting North Korean leader Kim Jong Un.