Washington DC - President Donald Trump's plans for a massive military parade on his birthday will cost taxpayers about $45 million, according to high-ranking defense officials.

Speaking under the condition of anonymity, two Pentagon officials told the New York Times on Thursday that the estimated $45 million cost of Trump's birthday parade is on the conservative side.

The parade is set to be held on June 14, coinciding with both the US Army's 250th anniversary and Trump's 79th birthday. It will include 150 vehicles, 50 warplanes, and the participation of more than 6,600 soldiers.

According to the officials, the $45 million estimate published by Reuters earlier this week is relatively accurate, but does not include the cost of cleanup after the fact, or potential repairs to Washington DC's roads.

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It is likely that repairs may be needed after the parade, as about two dozen M1 Abrams tanks will take part in the celebrations and could cause damage.

Attending soldiers will be housed in government buildings and provided with a stipend, as well as three daily meals.

The plans have been met with widespread criticism and come at a time when cost-cutting is seeing tens of thousands of federal employees laid off.

Trump justified the parade earlier in May, telling Kristen Welker on NBC News' Meet the Press that it will cost "peanuts compared to the value of doing it."

"We have the greatest missiles in the world. We have the greatest submarines in the world. We have the greatest army tanks in the world. We have the greatest weapons in the world," Trump raved.