Sgt. First Class Leroy Petry, who lost part of his arm in a battle in Afghanistan in 2008, said on "Fox & Friends First" that he sees it as a great way for the nation to say "thank you" to those who serve.
"So, thank you President Trump for honoring all of our veterans," said Petry, recalling that Vietnam veterans returned to a mostly ungrateful country and he appreciates when people thank him for his service.
The parade is being called "Salute to America" and will include a speech from Trump, a demonstration by the U.S. Navy’s Blue Angels flight squadron and $1 million worth of fireworks -- $750,000 of which was donated. There may also be a display of Abrams tanks and other military vehicles along the National Mall.
But many have taken issue with the planned celebration, arguing Trump is trying to make the holiday into a political event. The Washington Post's Eugene Robinson called it "obscene" and even compared the commander-in-chief to North Korean dictator Kim Jong Un.
When asked about those who criticize the amount of money being spent on the celebration, Petry held up his prosthesis to emphasize the sacrifice he and so many other veterans have made.
"The cost to me was worth it for all of our American citizens, so when it comes to thanking our veterans and doing the right thing, the cost is worth it to me. It should be to everyone else," he said.
Petry served eight tours of duty between Iraq and Afghanistan. The Army Ranger was awarded the Medal of Honor by President Barack Obama in 2011 for saving lives by picking up a live grenade and throwing it back as it exploded, severing his right hand.
Fox News' Andrew O'Reilly contributed to this report.