The NFL salary cap for 2016 has been set at $155.27 million.
The NFL and NFLPA have finalized a 2016 salary cap of a $155.27 million per team, per sources.— Tom Pelissero (@TomPelissero) February 26, 2016
$143.28 million, so rise of almost $12M. Plus teams carried over more than $200M in unused cap space from 2015. https://t.co/Fj7ssUSHSz— Tom Pelissero (@TomPelissero) February 26, 2016
Teams are allowed to carry over unused cap space from previous seasons. The Jets will carry over around $2.84 million. That makes the Jets' cap total around $158.11 million. According to Over the Cap, the Jets currently have around $135.8 million committed in salary in 2016 so their cap space is around $22.3 million at the present moment. They will have the opportunity to make other cuts in the coming days to raise their space.
The team has been quiet re-signing its free agents to date, and I would imagine this is why. It is tough to start spending without knowing the exact spending limit. This should help the team move forward and start retaining some of its own players.