Beat butter and cream cheese at medium speed with an electric mixer until creamy; add sugar and beating well. Add eggs, 1 at a time, beating until combined.
Combine flour and salt; gradually add to butter mixture, beating at low speed just until blended after each addition. Stir in vanilla .
Pour batter into a grease and floured 10 inch Bundt pan. Bake at 300 oF for 1 hour and 40min. or until a wooden pick inserted in center comes out clean.
Cool in pan over a wire rack 10 minutes; remove from pan.
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