Preheat your oven to 350°F (175°C).
Grease and flour a 9x5-inch loaf pan.
In a large mixing bowl, whisk together the dry ingredients: flour, baking powder, baking soda, spices, and salt.
In another bowl, mix the granulated sugar, brown sugar, pumpkin puree, oil, eggs, and vanilla until well combined.
Gradually add the dry ingredients to the wet ingredients, mixing until just combined.
Pour the batter into the prepared loaf pan and smooth the top with a spatula.
Bake in the preheated oven for 55-65 minutes, or until a toothpick inserted into the center comes out clean.
Allow the bread to cool in the pan for 10 minutes before transferring it to a wire rack to cool completely.
While the bread cools, prepare the cream cheese frosting by beating the cream cheese and milk until creamy.
Gradually add the powdered sugar to the cream cheese mixture, mixing until smooth and fluffy.
Once the bread is completely cool, spread the cream cheese frosting over the top.