• Breaking News

    'Hold the date' Trump exclaims, vowing a July 4 extravaganza in DC called 'Salute to America'

    President Donald Trump on Sunday promised to organize "one of the biggest gatherings in history" in the nation's capital on July 4, an event that he said would feature fireworks, entertainment and a presidential address.

    Posting on Twitter, the president gave few details about the proposed extravaganza, but said it would be called "A Salute to America." Last year, Trump promised to host a military parade in Washington, D.C., but those plans were tabled amid questions about the cost and logistics.

    It was not immediately clear whether the "Salute to America" was the same event postponed from last year, or whether it would be modeled in the same mold. he parade originally slated for November of last year, is estimated to cost $92 million, a Defense Department official told CNBC.

    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.

    --CNBC's Amanda Macias contributed to this article.

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