NASA is not planning to launch a new telescope specifically to replace Hubble when it falls back to Earth. Hubble's successor, the James Webb Space Telescope (JWST), was already launched in December 2021. It is currently in orbit around the Sun at a point called the second Lagrange point (L2), about 1 million miles from Earth.

While the James Webb Space Telescope (JWST) is not a direct replacement for Hubble, it is a much more powerful telescope that operates in the infrared part of the electromagnetic spectrum. It is designed to study the early universe, the formation of stars and planets, and exoplanets.

It's important to note that Hubble is not expected to fall back to Earth any time soon. While its orbit is gradually decaying, it's not expected to deorbit for at least another two decades.