Yanks are cutting down below $189 million by 2014, when the more punitive luxury tax implications take hold. They will be around $200 million again in 2013 (Already projected at $189 million per b-r, without having signed any players yet). That said, a ton of commitments end in 2013 so they can hit that mark in 2014. Among the Yankees who will be free agents next offseason: Derek Jeter (won't take the $8 million player option), Robinson Cano, Mariano Rivera, Andy Pettitte, Curtis Granderson, Hiroki Kuroda, Phil Hughes.
Of course, that still leaves them paying $100 million to CC Sabathia and filler (yes, I'm counting A-Rod and Tex as "filler" by then). Which means they're likely going to have a woeful team in 2014 by Yankees standards.