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Preheat oven to 350 degrees and grease a 9x11 baking dish with baking spray.
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Cream butter and peanut butter together until light and fluffy, about 1-2 minutes.
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Add in brown sugar and white sugar, and mix until well combined. Add in eggs, 1 at a time, beating well after each addition. Add in vanilla extract.
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In a separate bowl, mix all dry ingredients together. Slowly incorporate the dry ingredients into the wet ingredients. Once combined, add in butterscotch chips.
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Spread dough evenly in the baking dish and bake for 20-25 minutes, or until the top is just beginning to turn golden brown.
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Enjoy!