Preheat oven to 325 degrees F.
Line a 13x9" baking pan with nonstick foil.
Beat butter and sugar until creamy.
Add powdered sugar and vanilla.
Add flour to form your dough.
Press half in the bottom of the pan.
Add chips to rest of the dough and chill.
Bake the crust for 15 minutes.
Remove from the oven and pour the caramel evenly into the crust.
Crumble the rest of the dough on top.
Bake 25-30 minutes. Middle may be jiggly still.
Remove and cool.
Cut into bars!