The iPhone 4 and 4S have hotspot ability (when activated by the carrier). I can't imagine that they are going to remove it. Rumors are that the new iPhone will have LTE, and there are many convincing arguments for it, but you'll have to wait for the release to be certain.
Be sure to check with your carrier to see what the costs will be. Verizon now includes hotspot capability in their shared plans, for all devices that support it. Of course, all that means is that they've built the price into the plans, whether you want it or not. Their new plans are a good deal for me, but may not suit others.