For the Butterbeer Cupcakes
Preheat oven to 350 degrees. Line cupcake pans with liners.
In a medium bowl, whisk together the flour, baking powder, baking soda, and salt. Set aside.
In a large bowl, cream together the butter, brown sugar, and granulated white sugar for 1-2 minutes until fluffy.
Add in the eggs, vanilla, and butter extract and mix until pale in color, about 1-2 minutes.
Pour in the cooled butterscotch reduction and melted butterscotch chips. Mix until combined.
Slowly add the dry ingredients with the buttermilk until fully combined. Mix until smooth.
Divide the batter evenly between the cupcake liners, filling each about 2/3 full.
Bake the cupcakes for 14-18 minutes or until a toothpick comes out clean.
Let the cupcakes cool in the pan(s) for 5 minutes, then transfer them to a cooling rack.
For the Butterscotch Buttercream, whip the softened butter until pale and fluffy, around 5-10 minutes.
Add in the melted butterscotch chips, mixing to combine.
Gradually add the powdered sugar and mix until well combined.
Lastly, add the butter extract and vanilla, mixing until fluffy for another minute.
For the Butterscotch Ganache, add the butterscotch chips and heavy cream to a microwave-safe bowl.
Microwave for 30-45 seconds and stir to combine. Adjust if necessary.
Mix in the honey for an additional flavor boost and a glossy finish.