S.357 - Federal Government - A bill to improve passenger automobile fuel economy and safety, reduce greenhouse gas emissions, reduce dependence on foreign oil, and for other purposes.

Ten-in-Ten Fuel Economy Act - Revises corporate average fuel economy standards (CAFE Standards) for automobiles to exclude light trucks (currently, only passenger automobiles are excluded) from such standards. Prescribes graduated increased average fuel economy standards for passenger automobiles and light trucks beginning in model year 2010 in order to achieve a combined average fuel economy standard of at least 35 miles per gallon (or such other number of miles per gallon as the Secretary may prescribe) beginning in model year 2019. Prohibits such regulations from making any distinction between passenger automobiles and light trucks by not later than model year 2013 (effectively eliminating the SUV loophole). Sets forth minimum CAFE standards for domestic and foreign passenger automobiles manufactured in a model year prior to enactment of this Act.

Prescribes maximum CAFE standards for: (1) work trucks manufactured beginning in model year 2013; and (2) light trucks manufactured beginning in model year 2010.

Directs the Secretary of Transportation to issue a motor vehicle safety standard to reduce vehicle incompatibility and agressivity between passenger vehicles and non-passenger vehicles.

Requires passenger automobiles and light trucks be equipped with fuel economy indicators and devices beginning with model year 2014.

Authorizes the Secretary to establish a CAFE credit trading program to allow manufacturers whose automobiles exceed CAFE standards to earn credits to be sold to manufacturers whose automobiles fail to achieve such standards.

Revises fuel economy labeling requirements to require labels attached to passenger automobiles and light trucks to also include greenhouse gas and other emissions consequences information.