The U.S. 500 was an automobile race sanctioned by CART on May 26, 1996 at the Michigan International Speedway as an alternative to the 1996 Indianapolis 500.

Tony George, owner of the Indianapolis Motor Speedway, formed the Indy Racing League as an alternative to CART. While the Indianapolis 500 had continued to be sanctioned by the United States Auto Club (USAC) since the formation of CART in 1979, CART teams and drivers represented the vast majority of the Indy field, and USAC had taken steps to ensure that the technical specifications for Indy did not preclude CART teams from participating. In 1996, however, following his creation of the IRL, George stipulated that 25 of the 33 starting positions at Indy would be reserved for the top 25 teams which ran events in his series. This move created potential scheduling conflicts with CART-sanctioned events.

Interpreting this policy as a lockout of CART teams, the CART board agreed to stage the U.S. 500 at an alternative venue on Memorial Day weekend, the traditional date for the Indianapolis 500. George, on the other hand, viewed the refusal of CART teams to compete for the remaining eight positions on the Indy grid as a walkout/boycott.