We propose an enhanced version of trellis coded multiple access (TCMA), an overloaded multiple access scheme that outperforms the original TCMA in terms of achieved spectral efficiency. Enhanced TCMA (ETCMA) performs simultaneous transmission of multiple data streams intended for users experiencing similar signal-to-noise ratios and can be employed both in the uplink and in the downlink of wireless systems, thus overcoming one of the main limitations of TCMA. Thanks to a new receiver algorithm, ETCMA is capable of delivering a significantly higher spectral efficiency. We show that ETCMA approaches the capacity of the Additive White Gaussian Noise channel for a wide range of signal-to-noise ratios.