The Tropical Rainfall Measuring Mission (TRMM) Multisatellite Precipitation Analysis (TMPA) product provided over 17 years of gridded precipitation datasets. However, the accuracy and spatial resolution of TMPA limits the applicability in hydrometeorological applications. We present a dataset that enhances the accuracy and spatial resolution of the TMPA monthly product (3B43). We resample the TMPA data to a 1 km grid and apply a correction function derived from the Parameter-elevation Regressions on Independent Slopes Model (PRISM) to reduce bias in the data. We confirm a linear relationship between bias and elevation above 1,500 meters where TMPA underestimates measured precipitation, providing a proof-of-concept of how simple linear scaling can be used to augment existing satellite datasets. The result of the correction is the High-Resolution Altitude-Corrected Precipitation product (HRAC-Precip) for the CONUS. Using 9,200 precipitation stations from the Global Historical Climatology Network (GHCN), we compare the accuracy of TMPA 3B43 versus the new HRAC-Precip product. The results show an improvement of the mean absolute error of 12.98% on average.