The lopsided vote to approve the measure was a rare bit of election-year bipartisanship on a major affordability issue, but G.O.P. disputes and President Trump’s disinterest have left its fate uncertain.

The Senate on Thursday overwhelmingly passed the largest piece of housing legislation in 36 years, as Republicans and Democrats banded together to tackle a major cost-of-living issue just months before midterm elections in which affordability is expected to be a main focus.

But the bill still faces major hurdles, as Republicans feud over what should be included and President Trump, who backs the measure, signals that it is not a priority.

The package, which passed by a vote of 89 to 10, aims to boost the supply of new housing, a critical step toward bringing down housing costs, by removing regulatory barriers, providing incentives and preserving the existing supply. It would also set new limits on the role institutional investors play in the single-family housing market, a top goal of Mr. Trump, who signed an executive order on the issue in January.

The last time Congress passed housing legislation of this scale was in 1990, when it approved a bill that created a national affordable housing strategy and grant programs to fund new construction. The measure approved on Thursday would modernize a key program in that earlier legislation.