Find the gerund phrase in this sentence. Identify each phrase as a subject, a predicate nominative, a direct object, or an object of a preposition.

She is considering running for class president.

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The gerund phrase is running for class president.

A gerund phrase uses an -ing verb and acts as a noun in the sentence. In this sentence, the phrase 
running for class president acts as the direct object of the verb "is considering". The subject is the pronoun "she".