Heat oven to 350°F. Grease and lightly flour two 9x5-inch loaf pans.
In medium bowl, sift together flour, baking powder and salt; set aside.
In a large bowl or the bowl of a stand mixer fitted with the paddle attachment, beat sugar and butter until light and fluffy. Add vanilla and eggs, beating on high speed 5 minutes.
Add flour mixture into sugar mixture alternately with milk on low speed, beating just until smooth after each addition. Pour into pans.
Bake 55 to 60 minutes, or until toothpick inserted in center comes out clean. Cool 20 minutes; remove from pan(s) to wire rack. Cool completely, about 2 hours. Sprinkle with powdered sugar.
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Notes
You can substitute any extract flavoring you'd like, this also tastes great with almond and lemon flavoring.