In a large mixing bowl or stand mixer combine the butter, cream cheese, sugar, and egg blend with a mixer until nice and smooth. It will almost resemble frosting.
Add the vanilla and almond extract and beat for 1 minute more.
Add the flour, baking powder and baking soda. Beat for about 2 minutes.
Spread or press the dough evenly into a jelly roll (13 x 18) pan. I found it easiest to spread it with an offset spatula.
Bake at 350 degrees for 20 minutes or until golden brown. Test with a toothpick for doneness.
Let the pan cool completely.
For the frosting, in a large bowl (or your stand mixer) beat the butter and cream cheese until smooth.
Add the powdered sugar, milk, vanilla and food coloring, if desired. Beat for about 4 minutes until noce and fluffy.
Frost cooled pan of cookies. Cut the cookies into bars and serve! Makes 40 bars.