Step 1: Cook the Pasta
In a large pot, cook the elbow macaroni according to the package instructions until al dente. Drain and set aside.

Step 2: Cook the Bacon
In the same pot, cook the chopped bacon over medium heat until crispy. Remove the bacon with a slotted spoon and place it on a paper towel-lined plate. Reserve about 1 tablespoon of the bacon drippings in the pot.

Step 3: Sauté the Vegetables
Add butter to the pot with the bacon drippings. Once melted, sauté the diced onion and garlic until fragrant, about 2–3 minutes. Add the diced jalapeños and cook for another 2 minutes.

Step 4: Make the Base
Sprinkle the flour over the sautéed vegetables and stir to create a roux. Cook for 1 minute, then slowly whisk in the chicken broth. Continue whisking to ensure there are no lumps.

Step 5: Add the Dairy
Lower the heat to medium-low. Stir in the milk and heavy cream, letting the mixture gently simmer. Add the cream cheese, whisking until it melts completely into the soup.

Step 6: Add the Cheese and Seasonings
Gradually add the shredded cheddar cheese, one handful at a time, stirring until melted and smooth. Season with smoked paprika, salt, and black pepper to taste.

Step 7: Combine and Serve
Add the cooked macaroni to the soup, stirring to combine. Let the soup heat through for 2–3 minutes. Ladle into bowls and garnish with extra shredded cheese, crumbled bacon, and sliced jalapeños.