To Encourage Alternatively fueled vehicle Manufacturing up for Energy Independence Act of 2007 or the TEAM up for Energy Independence Act - Amends the Internal Revenue Code to impose an excise tax on the first retail sale of each passenger automobile sold by manufacturers, producers, or importers. Exempts alternative fueled automobiles from such tax.
Amends federal transportation law to revise the definitons of "automobile" and "passenger automobile" to increase the gross vehicle weight limit from 6,000 to 10,000 pounds.
Directs the Secretary of Energy to make grants for alternative fuel refueling infrastructure projects from a trust fund into which revenues from the excise tax on passenger automobiles shall be deposited.
Amends the Automobile Information Disclosure Act to require labeling for new automobiles to indicate: (1) whether a new automobile is an alternative fueled automobile; and (2) the types of fuel on which such automobile can operate.