Preheat oven to 400°. Beat butter and 1/2 cup sugar at medium speed with an electric mixer until creamy. Add eggs, 1 at a time, beating just until blended after each addition.
Combine flour, baking powder, and salt. Add to butter mixture alternately with milk, beginning and ending with flour mixture. Beat at low speed just until blended after each addition.
Pour batter into a lightly greased 9-inch round cake pan. Stir together cream cheese and 1 Tbsp. sugar. Dollop cream cheese mixture, 1 tsp. at a time, over batter. and top with Streusel.
Bake at 400° for 22 to 24 minutes or until a wooden pick inserted in center comes out clean. Drizzle with Vanilla Glaze, if desired.
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