Mix together 2 cups sugar with 1 cup melted butter. Add 4 eggs and mix again. Add 1 15 oz. can of pumpkin, 1 tsp. vanilla, and 2/3 cup water, and mix to combine.
In a separate bowl, add 4 1/3 cups of freshly milled flour (3 1/3 cups if using all-purpose flour), 2 tsp. baking soda, 1 tsp. baking powder, 1 1/2 tsp. salt and pumpkin pie spice and stir.
Gradually add the dry ingredients to the wet ingredients and mix to combine.
Place in 2 greased loaf pans and bake at 350° F for 60-65 minutes.
Put 1/4 cup butter, sugar, and brown sugar. Turn to high heat and bring to a boil. Add 1/4 cup whipping cream and take pan off stove to cool. Once the mixture is cooled, whisk in 2/3 cup confectioner's sugar and 1 tsp. vanilla.
Drizzle over cooled pumpkin bread loaves.
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