Federal Social Media Research Act This bill provides funding for a short-term study and a long-term study on the physical and mental health effects of using social media technologies on users who are under the age of 18. It also authorizes the Government Accountability Office to conduct the studies, including in partnership with any other federal agency. The bill specifies that the aim of the studies is to assess the relationship between patterns of social media use and suicide, anxiety, depression, and other medical conditions.