Commuters who use the MTA's subway and bus system are not used to the concept of a reduced fare, but it may actually happen, in due time.
However, MTA chief Jay H. Walder is considering introducing off-peak fares, a system that is used on some other area railroads, such as New Jersey Transit and the Long Island Railroad. Do not expect the new fares anytime soon, they are contingent on a new computerized card system, a tap and go system. For an example one has to only look to the PATH system with their SMARTLINK card. PATH does not offer an off-peak fare.
The idea is to spur off peak night and especially weekend ridership which could inject more funds into the system. It could be a boom for tourism and allow more people to enjoy the many cultural and nightlife opportunities that New York City has to offer. In addition, provide some economic relief for those who have to use the system to get to work on the weekends. If you only travel during peak hours you would pay the full fare, which currently stands at $2.25. The current Metrocard has only been around for 11 years and is seen as being a contributor to increased ridership since its introduction.
There are some that are saying that the system is very taxed during off-peak hours and that off-peak fares would be a bad idea.
Do not look for this to take effect anytime soon, the new card system needs to be installed, in addition to an MTA board vote. Also, this does not preclude any fare hikes in the future, but a fare hike would not be used to pay for the off-peak program.
Every little bit that helps commuters save money is welcome, if extra money comes into the system hopefully service quality will improve.
Sources: gothamist.com, NY Times.