See Labor Party (USA) for the modern party which has a similar name but is unconnected with the US Labor Party
The U.S. Labor Party was a short lived political party formed in the mid-1970s by the National Caucus of Labor Committees as a vehicle for Lyndon LaRouche to run for the position of President of the United States in 1976. By 1980, the NCLC and LaRouche had decided to join the Democratic Party so that LaRouche could run for that party's presidential nomination and the US Labor Party was disbanded.
The party was described by its founders as "an independent political association committed to the tradition of Benjamin Franklin, Alexander Hamilton, Henry C. Carey, and President Abraham Lincoln."
See also