Preheat the oven to 350℉. Line two baking sheets with parchment paper or silpat mats.
In a large bowl, use an electric mixer to combine the butter, cream cheese, sugar, and salt. Beat until smooth and fluffy, around 3 to 4 minutes.
Add the eggs and vanilla extract and mix for another minute.
In a medium bowl, whisk together the flour and baking powder. Slowly add the dry ingredients to the wet mixture and mix just until all is incorporated.
Cover the bowl with plastic wrap and refrigerate until the dough is firm.
Use a cookie scoop to measure an even scoop of dough (1 ½ to 2 tablespoons). Roll the dough into a ball.
Place the balls onto the baking sheet and use the bottom of a glass dipped in water and sugar to flatten into a round cookie shape, spacing them about 2 inches apart.
Bake for 12 to 14 minutes until the cookies are no longer looking raw in the middle.
Let them cool completely on the pan before transferring them to a rack.
In a large bowl, use an electric mixer to cream the remaining butter. Then mix in the vanilla. Add the powdered sugar and combine. Mix in 1 tablespoon of cream, then another until you reach a nice, spreadable consistency.
Frost the cookies leaving a visible rim around the edge, and top with holiday sprinkles.
Refrigerate the Lofthouse cookies in a covered container.
