The military parade requested by President Trump will be delayed until at least 2019, the Pentagon announced Thursday.

"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," a Pentagon spokesman said in a statement.

The Associated Press reported on Wednesday that the parade would cost about $92 million — more than three times the maximum initial estimate.

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An official told the AP that about $50 million would cover Pentagon costs for equipment, personnel and other support for the November parade in Washington. The remainder would be been borne by other agencies and would include security costs.

The White House budget office earlier estimated to Congress the parade would cost between $10 million and $30 million.

Mr. Trump decided he wanted the parade after he attended France's Bastille Day celebration in Paris last year.

"It was one of the greatest parades I have ever seen," the president said in September. "It was two hours on the button, and was military might, and I think a tremendous thing for France and the spirit of France."

Had it been held this year, the event would have been the first military parade since the end of the first Gulf War in 1991.