Mayor Michael Bloomberg. (Photo: Getty)

Mayor Michael Bloomberg made a splash by endorsing President Barack Obama this afternoon, however the billionaire's backing won't come with any campaign cash from the mayor's new super PAC. Sources familiar with Mayor Bloomberg's plans told Politicker "his PAC is not going to be contributing to the president's campaign."

Mayor Bloomberg created his super PAC, Independence USA, last month. At the time of its launch, the PAC pledged to spend $10 million to $15 million during this year's election cycle on "candidates from both parties who pledge to work in a bipartisan fashion."

So far, Mayor Bloomberg's PAC has spent at least $1.4 million that has gone to both Democrats and Republicans. As of this writing, Howard Wolfson, a deputy mayor who took a leave from City Hall to head the PAC on the mayor's behalf, has not responded to a request for comment on this story.