1. Combine first 4 ingredients in a small bowl.
2. Beat butter and sugars in a large bowl until creamy.
3. Beat in pumpkin, egg and vanilla until well mixed; gradually beat in flour mixture. Stir in chips and nuts.
4. Drop by rounded Tbls. onto greased baking sheet; flatten slightly with back of spoon or greased bottom of glass dipped in sugar.
5. Bake in preheated oven at 350°F for 11-14 minutes.
6. Cool for 2 minutes, remove to wire rack to cool completely.