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He said that his money would support various candidates at all levels of government as well as campaign issues such as gun control.
New York mayor and billionaire Michael Bloomberg announced on his website Wednesday that he was creating his own super PAC.
He said that his money would support various candidates at all levels of government as well as specific campaign issues.
"It's critically important that we have elected officials in Washington, Albany, and around the nation who are willing to work across party lines to achieve real results," Bloomberg said said in a statement, according to CBS News.
"I've always believed in the need for more independent leadership, and this new effort will support candidates and causes that will help protect Americans from the scourge of gun violence, improve our schools, and advance our freedoms."
Bloomberg's time in office is up in 2014 but his super PAC may be a way of maintaining political influence using his wealth of about $25 billion.
The super PAC called Independence USA PAC, will focus on issues like gun control, education reform and gay rights.
It is also aimed at supporting moderates, whether Democrat or Republican.
Some of those he will support, according to the Atlantic Wire, include: Angus King, independent Senate candidate in Maine to whom he gave $500,000 in a Senate race.
He will also support Gloria Negrete McLeod, a Democrat facing California Rep. Joe Baca, who is weak on gun control.
He will also support Rep. Bob Dold of Illinois, who supports gun control.
"There'll be others," said Deputy Mayor Howard Wolfson, who is heading up the initiative, according to the Associated Press.
"Every journey begins with a single step. I don't think we're going to transform Washington in a day, but the NRA is on the field spending millions to influence elections, and it's important for people who feel differently to have their voices heard as well."
Super PACS, or "independent-expenditure only committees," have sprung up in recent years after a Supreme Court ruling in Citizens United v. Federal Election Commission that allowed for unlimited individual contributions.