PROGRESS Act

Program for Real Energy Security Act or the PROGRESS Act - Establishes the National Commission on Energy Security and Transition to New Fuels. Sets forth the duties of the Commission, including to make recommendations to Congress and the President for: (1) preserving the national energy security in the event of a terrorist attack or natural disaster; and (2) reducing U.S. dependence on foreign oil over a specified period.

Establishes: (1) the New Manhattan Center for High Efficiency Vehicles; and (2) the Advisory Council on Federal Participation. Requires the Secretary of Energy to carry out a program of grants to federal and private sector researchers (including the Center) to research and develop alternative fuels and technologies to improve the productivity of U.S. automotive firms in the manufacture of high efficiency vehicles.

Establishes a grant program to provide assistance to retail and wholesale motor fuel dealers or other entities to install, replace, or convert motor fuel storage and dispensing infrastructure for use in the storage and dispensing of biobased fuels.

Sets forth requirements calling for: (1) the production and distribution of biobased fuels (ethanol) and deployment of new engine technologies for fuel-flexible, hybrid, plug-in hybrid, and biodiesel vehicles; (2) greater use of alternative fuels in dual fueled vehicles operating in the federal fleet; and (3) the increase and expansion of employer-provided mass transit fringe benefits.

Transit Rail Accommodation Improvement and Needs Act - Allows for the shared use of rail carrier trackage and rail rights-of-way by mass transportation authorities. Authorizes capital investment grants to improve intercity passenger rail service.

Allows a tax credit to holders of qualified high-speed rail infrastructure bonds.

Railroad Track Modernization Act of 2007 - Establishes a capital grant program for the rehabilitation, preservation, or improvement of railroad track of class II and class III railroads. Requires the issuance of regulations implementing reliability standards for the safe transportation of energy supplies by rail.