Beat butter until creamy, 2 minutes. Add the sugars, beat for 2 more minutes. Mix in peanut butter and egg. Mix together the dry ingredients - flour, baking soda, baking powder and salt. Stir the dry ingredients into the sugar butter mixture. Wrap dough in plastic and refrigerate at least 3 hours. Preheat to 375 degrees. Shape dough into 1 1/4 inch balls. Place about 3 inches apart on ungreased cookie sheet. Flatten in crisscross pattern with fork. Bake until light brown, 9 to 10 minutes. Cool on baking sheets for a minute; transfer to rack to cool.
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