The Nation - News from Feb. 17, 1989

House Speaker Jim Wright (D-Tex.) announced that he would delay a vote set for next Thursday on legislation to require disclosure of foreign ownership of American companies until after a trip this month by President Bush to Japan, China and South Korea. The legislation, known as the Bryant Act for its sponsor, Rep. John Bryant (D-Tex.), had been strongly opposed by the Ronald Reagan Administration, and President Bush also is against it. Five Bush Administration Cabinet officers, including Secretary of State James A. Baker III and Treasury Secretary Nicholas F. Brady, sent letters to lawmakers warning that, if Congress passed the legislation, they would recommend that President Bush veto it.