The Weighted Tree Augmentation Problem (WTAP) is a fundamental well-studied problem in the field of network design. Given an undirected tree $G=(V,E)$, an additional set of edges $L \subseteq V\times V$ disjoint from $E$ called \textit{links}, and a cost vector $c\in \mathbb{R}_{\geq 0}^L$, WTAP asks to find a minimum-cost set $F\subseteq L$ with the property that $(V,E\cup F)$ is $2$-edge connected. The special case where $c_\ell = 1$ for all $\ell\in L$ is called the Tree Augmentation Problem (TAP). Both problems are known to be NP-hard. For the class of bounded cost vectors, we present a first improved approximation algorithm for WTAP since more than three decades. Concretely, for any $M\in \mathbb{Z}_{\geq 1}$ and $ε> 0,$ we present an LP based $(δ+ε)$-approximation for WTAP restricted to cost vectors $c$ in $[1,M]^L$ for $δ\approx 1.96417$. For the special case of TAP we improve this factor to $\frac{5}{3}+ε$. Our results rely on a new LP, that significantly differs from existing LPs achieving improved bounds for TAP. We round a fractional solution in two phases. The first phase uses the fractional solution to decompose the tree and its fractional solution into so-called $β$-simple pairs losing only an $ε$-factor in the objective function. We then show how to use the additional constraints in our LP combined with the $β$-simple structure to round a fractional solution in each part of the decomposition.