Palm tree is not doing well and I don’t know how to help it!!

I have had this indoor palm tree for about 2 years not and it looks like the leaves are drying up. They are not browning yet but they have in the past. I have it in citrus/palm soil and feed it every month. I water it once a week and spray it everyday because it is not humid here in Colorado.

 

I don't know what the problem is but here are some thoughts:

• The container appears to be too big for such a small plant which may be contributing to the problem. The soil would remain wet for longer than desired resulting in an unhealthy environment for root growth.
• A white substance can be seen on the fronds which leads me to think there may be a mealybug infestation.
• This may be a young Chamaedorea elegans, Parlour Palm. If that is the case, it would do well even in lower light environments.

 

What is the purpose of the plastic?

 

The plastic is definitely problem, if that is there all the time. I agree the pot is too big. Misting houseplants daily is commonly ineffective at helping with dry air. The problem is that it opens up the plant stomata, which then will eventually close much slower than your misting water evaporates, actually leading to a net loss of the plant's internal moisture every day. However occasional (like weekly or monthly) misting, or plain strong washing of leaves, does help reduce bug infestations. Do you know what type of palm it is? Many different types look similar when they're sick like that.