Institute for the Social Sciences Act

Institute for the Social Sciences Act - Declares the finding of Congress that there is a need for a more explicit and rational formulation of national goals and priorities, and that the Congress needs more detailed and current budget data and economic analysis in order to make informed priority decisions among alternative programs and courses of action.

Establishes in Washington, District of Columbia, the "George Washington Memorial Institute for the Social Sciences" to promote the social welfare of the United States by: (1) providing research relating to the social needs of citizens; (2) gathering data relevant to social conditions in the United States; and (3) organizing conferences and seminars with persons of outstanding achievement. Provides that the Institute shall be under the direction of a Board of Trustees. Specifies the members composing such board, their annual compensation, and terms of office.

Provides that the primary function of the Institute shall be to supply to Congress analysis as will be most useful in voting on measures and appropriations by providing the overview of priority considerations within which a meaningful consideration of individual measures can be undertaken.

Requires the Institute to submit an annual report to Congress detailing: (1)an analysis, in terms of national goals and priorities, of the programs in the annual budget; (2) an examination of resources available to the Nation; (3) recommendations concerning spending priorities among Federal programs.

States that the Institue shall provide upon request to any Member of the Congress further information, data, or analysis relevant to an informed determination of national goals and priorities.

Sets forth the powers of the Institute in performing its functions. Provides for payment of all expenses and salaries of the Institute by the Secretary of the Senate from funds appropriated for the Institute upon vouchers signed by the Director.

Creates, within the Institute, George Washington Memorial Fellows to assist in carrying out the functions of the Institute by virtue of their expertise.

Provides that enactment of this Act shall discharge any and all obligations on the part of the Federal Government under the bequest of President George Washington.

Authorizes appropriations of $10,000,000 for fiscal year 1974, and $5,500,000 for each succeeding fiscal year.